Russian Minister Thinks National Bitcoin and Ethereum Can Be Produced

A veteran Russian politician says Russia should create its own cryptocurrency as an alternative to Bitcoin and Ethereum because Bitcoin is developed on “foreign cryptography.”

Russia recently signed a partnership with the Ethereum Authority. . Communications Minister Nikolay Nikiforov said in an interview with journalists that Russia has the “capacity” to create its own cryptocurrency as an alternative to Bitcoin and Ethereum.

According to the Sputnik News quote, Nikiforov “Bitcoin and Ethereum are cryptocurrencies developed on foreign cryptography. Russia has its own school of cryptography.” We can adjust the legal regulations accordingly.”

There are quite different voices coming from the Russian government about cryptocurrencies right now. While some argue that cryptocurrencies should be banned, some argue that they should be supported. It is pleasing that Nikiforov is among the supporters.

The news and comments about cryptocurrencies in Russia are quite complex, as we said. While talking about banning the sale of cryptocurrencies, there may be news that the Central Bank of Russia has approved crypto money exchanges. Following the promising developments regarding blockchain, we can see that mining could be banned. After Nikiforov’s statement in support of cryptocurrencies, it is a question of what other explanation will come from Russia.

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