Vladimir Putin

During a video conference with the government  held on January 26, Russian President Vladimir Putin instructed the government and the Bank of Russia to seek consensus on the cryptocurrency industry.

The Blockchain-based voting system announced in Russia has a vulnerability allowing for decrypting votes before the official end of voting. This feature questions the anonymity of voting, thus making it possible to manipulate people’s votes by forcing them.

While global giant economies including the USA and China are looking to issue their Central Bank Digital Currency (CBDC), the President of Russia, Vladimir Putin, announced they are not going to develop a national cryptocurrency.

Recently Russians woke up to the news of a new prime minister following a number of events that saw the government resigning. The new PM, who served as the head of  Russian tax services Mikhail Mishustin has  supported cryptocurrency for quite some time. The prime ministers vowed to transform the modern blockchain powered state for the benefit of Russians.

The main political opponent to Vladimir Putin, Alexei Navalny, has received donations of around 591 Bitcoin (approx. $3 million) since 2016. The Russian opposition leader has managed to raise weighty funding in cryptocurrencies for his political campaigns.

President of the Russian Federation, Vladimir Putin, has asked his government to draft blockchain and crypto regulations no later than July 1, 2019.

The VP of the Russian Central Bank, Olga Skorobogatova, stated at the St. Petersburg International Economic Forum 2017 that the Bank of Russia is already working on the project of a national digital currency.