Russia's New Prime Minister Sets Course for Digital Economy

pubblicato su by Cointele | pubblicato su

The Prime Minister of the Russian Federation has called on the country to prioritize the development of the digital economy.

As domestic news outlet RIA Novosti reported on Jan. 16, Mikhail Mishustin - who was confirmed in the position as the Prime Minister earlier today - noted some key priorities for his work and outlined the need for institutional reforms in Russia.

Mishustin gave his statement after the government and Russia's former Prime Minister Dmitry Medvedev announced that they were resigning.

Blockchain plays an important role with major firms in Russia.

Last December, Russia's national energy grid operator Rosetti began testing a blockchain solution for payments in the retail electricity sector to automate and make transactions between energy producers, suppliers and consumers more transparent.

In November of last year, Russia's largest bank, the majority state-owned Sberbank, pioneered a blockchain solution for repurchase agreements.

Major players in the cryptocurrency and blockchain space have also praised Russia's role in the industry's development.

Digital currencies still do not have solid legal ground to stand on in Russia.

In November of 2019, news broke that Russia was allegedly preparing a ban on the use of cryptocurrencies to pay for goods and services.

The press department of Russia's central bank commented on the issue: "If a decision is made to ban cryptocurrencies as a means of payment at the level of legislation, we consider it appropriate to support this position."

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