Russia's Growth Party calls for legalization of Bitcoin in Russia and development of a new Bitcoin blockchain economy

Golden Finance News - Recently, Boris Titov, leader of Russia's Party of Growth, called on Russia to legalize cryptocurrencies such as Bitcoin and become a leader in the development of Russia's blockchain industry.

Boris Titov, leader of the Russian Growth Party, calls for legalization of Bitcoin in Russia. Image source: Golden Finance

Titov said that Russia can use blockchain technology to reverse the current difficult economic situation and make Russia a country with great development prospects again.

Boris Titov said that the state should facilitate foreign investors’ investment in the Russian Bitcoin industry by removing restrictions on Bitcoin and blockchain investments in Russia, and that the state can use blockchain to develop a new economy.

According to the information, the Russian Growth Party supports the free market economy, democracy and the protection of the rights of the middle class. It is reported that in March this year, the Russian Growth Party and the Waves blockchain platform jointly developed a cryptocurrency platform for assets and custom electronic currencies to provide users with the transfer and transaction of electronic assets. The platform is called "People of Growth", which is a social project developed by the Waves blockchain platform.

In proposing to legalize Bitcoin in Russia, Titov also made some other demands. He proposed,

1. Legalize Bitcoin mining operations in Russia.

2. Confirm the “property rights of Russian Bitcoin holders”.

3. Ensure that the Bitcoin blockchain information submitted to the main chain can be used as evidence in Russian courts.

4. Allow the use of cryptocurrencies such as Russian Bitcoin to pay for goods, services and labor.

5. Allow the use of cryptocurrencies for investments on an equal basis with legal tender.

Titov said that at least 2 million Russians are currently using cryptocurrencies such as Bitcoin. He said that blockchain technology is developing rapidly around the world, and Russia is no exception.

Herman Gref, chairman of Sberbank, Russia’s largest bank by assets, said that the proposed Russian Bitcoin ban would hinder the development of blockchain technology in the Russian Federation.

Meanwhile, Investigative Committee Chairman Alexander Bastrykin also stressed that the rapid adoption of Bitcoin poses a real threat to the country’s financial stability.

Judging from these signs, it is still difficult for Russia to legalize Bitcoin.