Russia


Russia
Experimenting with blockchain

Some banks permit

  • On March 20, 2018, the State Duma Committee proposed a cryptocurrency regulation bill, concerning not only the country’s security, but also redefining the digital currency as a financial asset and only allowing transactions on authorised exchanges.
  • Some controversy among Russians about regulations and active involvement in blockchain 
  • The Central Bank of Russia’s FinTech Association has undergone further investigations on blockchain for financial cross-border communication with the Eurasian Economic Union. There is a good possibility that the new technology replaces existing international payment systems.
  • Russian polling research center used blockchain technology to observe this year’s exit polls of the presidential election. It is perceived as an addition of security and transparency to Russia’s highly opposed election process.
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