Bitcoin will be Treated As Digital Commodity by Russian Central Bank

The Deputy of the Russian central bank Olga Skorobogatova has called for cryptocurrencies to be treated as digital commodities. She noted that the central bank of Russia would try to adopt policies with a particular attention on tax, controls and responsibility like the ones, which apply to digital commodities.

Bank of Russia

Olga Skorobogatova said:

“With cryptocurrency being emitted which isn’t backed by the gold standard and stays beyond manage from the point of view of supply, eventually this may cause instability in economic markets.”

Russia is trying to adopting formal policies on cryptocurrency from 2018, the Russian Central bank formerly introduced, with proposals for what form those ought to take due subsequent month.


In April, during preliminary feedback on the Russian government’s future stance on Bitcoin and other different cryptocurrencies, deputy finance minister Alexey Moiseev although introduced that the nation wanted to monitor transactions, no matter how this could be realistically achieved.

Alexey Moiseev said:

“The nation desires to understand who at each moment of time stands on each sides of the monetary chain. If there’s a transaction, those who facilitate it should recognize from whom they offered and to whom they were promoting, much like with financial institution operations.”


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