Definitely a step back, not what the community wanted to hear.
Decentralized cryptocurrencies are considered a type of property, which should be reported for tax purposes and cannot be used to pay for goods and services.
The Russian central bank suggested a ban on the use and mining of cryptocurrencies. The report came out last week and it was citing concerns about the overall financial stability, people’s safety, and monetary policy independence.
Where is the CBDC. I’m sure they’re taking a page out of China’s play book when it comes to cryptos and digital currency. It’s unfortunate as Russia has some excellent geographic benefits that would definitely aid large-scale crypto mining infrastructure. And their position in the world of energy production and distribution again would be a huge benefit for Bitcoin mining companies interested in building out facilities in Russia.
I am not sure whether I’ve heard anything about a digital ruble, though it is certainly possible they have that in the works.