The Central Bank of Russia has no intention to classify cryptocurrencies as means of payment.

TASS reports that Central Bank’s First Deputy Governor Olga Skorobogatova has made that statement at the session of the Public Council in the Russian Finance Ministry.

“We do not and will not consider cryptocurrencies to be means or instruments of payment,” she said.

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It is worth reminding that in late May Olga Skorobogatova suggested classifying cryptocurrencies as “digital products” and clarifying the regulations on taxation, control and accounting. Deputy Minister of Finance of Russia Alexei Moiseev suggested considering cryptocurrencies “other property”.

“If we consider cryptocurrency to be money, we will need currency control, but we do not need it as cryptocurrencies are not foreign currency,” noted Alexei Moiseev.

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