A senior Russian official has confirmed that Venezuela's debt to Russia, a total of $3.15 billion owed to the Kremlin within a 10-year period, won't be reimbursed in any part with Venezuelan state cryptocurrency petro.
A Russian official asserts that his country never partnered with Venezuela about the Petro, Venezuela's national cryptocurrency, Russia's news source Tass reported Friday. The world's first state cryptocurrency is marked by the Petro.
Authorities are planning to pass new laws which would legalize markets that are cryptocurrency .
The ministry of finance of Russia is proposing to create special offshore cryptocurrency trading platforms with cities of Kaliningrad and Vladivostok considered as potential locations, deputy minister Alexei Moiseev said.
While dramatic price swings of bitcoin and other cryptocurrencies are rattling the nerves of investors, a Moscow-based firm has launched a hotline to help ease their strain over crypto market changes.