Bitcoin

Anton Tkachev, a Deputy in the <a href="https://optimisus.com/news/crypto-news/russian-president-vladimir-putin-calls-bitcoin-unstoppable/" rel="noopener noreferrer nofollow">Russian State</a> Duma, has suggested creating a strategic Bitcoin reserve to improve the country&#39;s financial stability.This plan, shown to Finance Minister Anton Siluanov, highlights Bitcoin&#39;s ability to be a strong asset, protected from international sanctions and inflation issues that affect regular currencies like the dollar, euro, and yuan.Tkachev&#39;s proposal comes at a time when Russia is changing how it regulates <a href="https://optimisus.com/news/crypto-news/russian-authorities-in-dagestan-intensify-efforts-to-shut-down-illegal-underground-crypto-mining-farms/" rel="noopener noreferrer nofollow">cryptocurrency</a>. President Vladimir Putin has recognized that Bitcoin is here to stay and has potential for growth, which has helped its value rise above $100,000.Russia has made changes to its regulations by removing VAT on crypto transactions and setting a 15% tax on profits from crypto, treating them like securities. Bitcoin mining is now legal, but there are some restrictions. This is especially true in occupied areas of Ukraine and during the winter in Siberia to help control energy use.Russia wants to create a national Bitcoin reserve, similar to other countries are doing. Pennsylvania in the US has suggested using 10% of state funds for Bitcoin, and investment firms support seeing it as a reserve asset. El Salvador set a record by creating a Bitcoin reserve in 2021, which is now worth more than $554 million. Tkachev&#39;s proposal is still uncertain, but it shows that Russia is working to improve its crypto rules and look for options beyond traditional finance. This aligns with the growing trend of Bitcoin being seen as a valuable asset around the world.

Russian lawmaker proposes a Bitcoin reserve to enhance financial stability

Optimisus

Other articles published on Dec 12, 2024

What Are Stablecoins and How Do They Work?

[Bitop Review] CPI Meets Expectations, Nasdaq Breaks 20,000, Cryptocurrencies Surge

Uber Stock Rises as GM Cancels Robotaxi Plans

Want a Pudgy Penguin NFT? You'll Need More Than a Bitcoin

Coinbase faces backlash as users report prolonged account freezes

Sun Capital Advisory Announces Abu Dhabi Office at ADFW

Join our free newsletter for daily crypto updates!