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Home News Crypto Mikhail Mishustin, Russia's new Prime Minister, on crypto and blockchain

Mikhail Mishustin, Russia’s new Prime Minister, on crypto and blockchain


Mikhail Mishustin is a new Russian Prime Minister. The statements of the former head of the Federal Tax Service of the Russian Federation (FTS) about cryptocurrencies and blockchain did not escape our attention.

Back in 2016, Mishustin gave an interview to the Russian information television channel RT. He expressed his awareness in the area of interest to us: “Blockchain technology is a very interesting topic to the tax service. First, we can’t change your document in any way, because it is protected. As far as I know, several departments are already working in this direction. ”

In the fall of 2018, in an interview with the Vedomosti newspaper, answering a question about what modern technologies the Federal Tax Service is facing, Mishustin said:

“The old cashing schemes no longer work. Thanks to the work of the Central Bank, Rosfinmonitoring, and the Ministry of Internal Affairs it is not so easy to cash out money. But other schemes appeared, primarily related to cash-in platforms that use completely different derivatives – for example, cryptocurrencies. We are now looking at quasi-money, special payment systems through which businesses and people try to evade taxes. They think about this all over the world. ”

So, Mishustin sees in cryptocurrencies imaginary money, which is a tax evasion tool.

Russian Central Bank is issuing its own digital currency

In the same interview, the head of the Federal Tax Service voiced his attitude to the central bank issuing its own digital currency, that is, the digital ruble (CBDC):

This is a question for the Central Bank. But, of course, you need to think about how to prevent the creation of an alternative system that is not related to the state”.

On December 12, 2019, Mishustin gave an interview. In his interviev he noted cryptocurrency and blockchain:

“Let’s list: biometrics, big data, biotechnologies, 3D printing, mobile applications, cryptocurrency , electronic payments, blockchain, high-density image, Internet of things, smart dust, mixed reality, augmented reality, artificial intelligence, digital doubles. ”

Thus, the new Prime Minister of Russia has been at least for 4 years “in crypto”. Of course, we don’t know anything about his cryptocurrency portfolio, however, we can safely state that Mishustin has understood what blockchain is for many years, sees the form of money in cryptocurrency (according to his terminology, “quasi-money”) and believes that creation of non-state currency should be prevented.

As the head of the Federal Tax Service, Mishustin achieved success precisely because of his knowledge of modern technologies and the digital economy.

Lena S.
Lena is an adventurous soul searching the world for truth and balance. She is a mother of 2 beautiful daughters and a full time writer for Financial News where she covers various topics from finance, government, politics, current events, crypto and technology.

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