- Russia is contemplating building a large financial center on the island of Bolshoy Ussuriysky.
- Russias hate-love relationship with cryptocurrencies continues.
Russian has been having a love-hate relationship with cryptocurrencies over the years. The country at time considers banning crypto activities altogether while at some other time, it feels that crypto regulation is the way to go. Particularly today, conflicting news is coming from Russian news outlets. A representative of the State Duma (parliament) said the holding Bitcoin was legal as long as it is bought under foreign law and point of sales while mining cryptocurrencies will attract fines.
You may also like:
On the other hand a local news outlet, TASS news agency reported that same Russia is contemplating building a large financial center on the island of Bolshoy Ussuriysky. This according to Leonid Petukhov, who heads the Far Eastern Agency for Attracting Investments and Supporting Exports. Petukhov says that the island could be the next home for cryptocurrencies, cryptocurrency exchanges, and forex markets.
This island lies on the border between Russia and China. The western parts of the island were transferred to Beijing after an elongated period of dispute in the 2004 agreement. Petukhov was speaking to TASS at the St. Petersburg International Economic Forum.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.