The Ministry of Finance proposed a set of amendments to the law that would prohibit all cryptocurrency transactions, limiting their use to three areas: inheritance, bankruptcy-related operations, and court executions.
I find this really weird. How in the world did the country's ministry of finance came up with these three uses? I am a bit interested to know the process or study by which they determined that Bitcoin and crypto transactions are best limited to these areas. I bet this is another case of implementing Bitcoin and crypto-related policies without understanding Bitcoin and crypto first.
Well from my point of view if the government of Russia reaches an agreement as it says in the post, possibly this is to promote more PETRO since we know that it is a cryptocurrency that the government of Russia and Venezuela is promoting and in places like vk (the Russian facebook) is used, but hey how it is a cryptocurrency "backed by oil" I doubt that people have much confidence since we all know the decline that all stocks related to a barrel of oil had in futures
I wasn't aware of the alleged ties between the Petro and Russia until now, interesting to learn. It's even more interesting to hear that it's still being pushed. A cryptocurrency issued by Venezuela, backed by oil, sounds like it should be long dead by now.
Petro was dead right from the start so I guess there is no such thing as Russia supporting, much less promoting, Petro.