Russia To Consider Strategic Bitcoin Reserve to Boost Stability
Anton Tkachev, a deputy to the Russian State Duma and a member of the New People’s Party, suggested establishing a strategic reserve of Bitcoin to strengthen the country’s financial stability.
According to local reports in Moscow, Tkachev has formally submitted the proposal to Finance Minister Anton Siluanov.
Will Russia Consider Building a Bitcoin Reserve?
exist proposalTkachev emphasized the limitations of traditional currency reserves such as the dollar, euro and yuan. He mentioned that these assets are vulnerable to inflation and international sanctions.
Additionally, Tkachev believes that Bitcoin reserves can serve as an independent alternative that is not influenced by any single country.
“Dear Anton Germanovich, I ask you to evaluate the feasibility of establishing a strategic reserve of Bitcoin in Russia by analogy with the national reserve of traditional currencies. If this initiative is approved, I ask you to submit it to the Government of the Russian Federation for further implementation,” the statement said (originally in Russian).
Russia appears to be considering softening stance Crypto Regulation. This may be caused by Coming regulatory shifts in the U.S. After Trump was re-elected in early November.
Just last week, President Vladimir Putin said publicly No one can ban Bitcoin and it will continue to grow. This is ultimately the final push BTC needs Reached $100,000 milestone After hovering around $95,000 for a month.
Putin is optimizing cryptocurrency regulations
On the tax front, Russia recently made significant changes to its crypto regulations. Cryptocurrency trading now Exemption from Value Added Tax (VAT). Instead, profits from cryptocurrency activities are subject to a 15% personal income tax, which is similar to the tax structure for securities.
Earlier this year, Russia Bitcoin and Cryptocurrency Miningmarking a major shift in regulation. However, mining restrictions remain in place in certain areas.
Activities include Prohibited for use in the occupied territories of Ukraineincluding Donetsk, Luhansk, Zaporozhye and Kherson. Siberia also faces seasonal restrictions on mining between December 2023 and March 2031 to manage electricity demand.
Meanwhile, the idea of a national Bitcoin reserve is gaining traction globally. In the United States, Pennsylvania has introduced Bill proposing to allocate 10% of state funds Think of Bitcoin as a hedge against inflation and a means to diversify your investments.
Additionally, Trump may consider strong optimism Establishing a National Bitcoin Reserve After taking office in January. investment company VanEck also joined the campaign Advocates the use of Bitcoin as a reserve asset.
El Salvador Become a pioneer in this field. The country established a Bitcoin strategic reserve in 2021 and now hold With over $554 million worth of BTC, unrealized profits are close to 120%.
Disclaimer
follow trust project BeInCrypto is committed to fair and transparent reporting. This news article is designed to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on the content of this article. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
