The Minister of Finance of the Russian Federation Anton Siluanov sent the Russian President the letter in which he assured the head of the country in his loyalty to possible realization and start in the country of the private Russian cryptocurrency.
“The Ministry of Finance of the Russian Federation doesn’t object to possible implementation of the private project on creation of the Russian cryptocurrency on condition of ensuring the corresponding control from the financial authorities and also lack of need of implementation of investments at the expense of public funds.”
— the letter states.
The Minister of Finance pays attention to the existence of legal and technological restrictions for application of blockchain technology. Siluanov specified that in the system of bitcoin cryptocurrency it is possible to make seven transactions per second, in Ethereum — 20 transactions per second, and at Visa payment service provider are two thousand transactions for the same period.
Besides high-speed restrictions, usage of national cryptocurrency for attraction of foreign investments can become complicated during its exchange for foreign currency. Now, Russian users face restrictions of access to foreign cryptocurrency exchanges. In the future it is possible to expect emergence of obstacles for entry of national cryptocurrency into the world markets.