Russian finance ministry official objects central bank crypto ban

Ivan Chebeskov, the head of the financial policy department at Russia's Ministry of Finance, opposes the central bank's consideration to ban cryptocurrencies. "We need to regulate, not ban," Chebeskov says in a release. Remember that Russia's central bank recently proposed a ban on the use and mining of digital tokens in the country due to financial stability risks. The bank is waiting for feedback on its report until March 1. Chebeskov has prepared a set of proposals and is waiting for the government to evaluate it, he notes. Rather than banning cryptos outright, "we need to let these technologies develop," he adds. Recall that the Indian government also recently came out to say that it will ban cryptos as a payment method, though it could be held as an asset. China declared crypto transactions illegal last year as well. In the crypto world, bitcoin (BTC-USD +3.1%) flirts with $37K per