Using crypto debit cards are now legal in Russia, finance minister assures

23 Jan, 2019 | Updated: 23 Jan, 2019
by Fifi Arisandi
Regulation
Using crypto debit cards are now legal in Russia, finance minister assures

Russia now acknowledges transactions using crypto debit cards as legal, as declared by the country's finance minister. 

After mazy reporting regarding the Russia’s huge Bitcoin investment, a new update has emerged, this time coming from the country's finance minister.

According to Altcoinbuzz’s report, Alexei Moiseev, Russian Deputy Finance Minister has declared that crypto debit cards are acceptable in the country.

The statement was made during the Gaidar economic forum that gathered executives from the finance sector, politicians as well as academics in the country.

He admitted that he might have misjudged cryptocurrency and that his opinion towards the use of crypto debit cards has changed, something that is very likely related to Vladimir Putin’s shifted stance towards crypto.

Moiseev said that paying with a crypto debit card is a legal transaction, despite the fact that there was a man being prosecuted for doing such thing just recently.

Furthermore, he stated his expectation of the “new stance” that it would boost the mass adoption of cryptocurrency in the country.

Read more: Will Russia inject $10 billion into Bitcoin?; Russian economist reaffirms rumors

In a global scope, it still remains to be seen if cryptocurrency (Bitcoin) will become the next global reserve currency, as many maximalists have predicted. 

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