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n State Duma Deputy Proposes Strategic Bitcoin Reserve

Started by Bitcoin, Dec 10, 2024, 05:13 am

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Dec 10, 2024, 05:13 am
n State Duma Deputy Proposes Strategic Bitcoin Reserve


                       
                       
                       

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Today, n state-owned domestic news agency, RIA Novosti, reported that State Duma Deputy Anton Tkachev proposed creating a strategic bitcoin reserve for , claiming they have obtained a copy of the document.

Tkachev, from the New People party, sent the proposal to 's Finance Minister, Anton Siluanov, to create a bitcoin reserve similar to 's traditional currencies reserves.




"I ask you, dear Anton Germanovich, to assess the feasibility of creating a strategic reserve of bitcoin in  by analogy with state reserves in traditional currencies," the document reportedly stated. "If this initiative is approved, I ask you to submit it to the government of the n Federation for further implementation."

"In conditions of limited access to traditional international payment systems for countries under sanctions, cryptocurrencies are becoming virtually the only instrument for international trade. The Central Bank of  is already preparing to launch an experiment in cross-border settlements in cryptocurrency," the document reportedly goes on to explain.

Tkachev's document explains that creating a strategic Bitcoin reserve could enhance 's financial stability, noting that traditional currency reserves such as the dollar, euro, and yuan are all subject to inflation and sanctions, and that a new alternative independent of any individual country is needed.

This development continues the trend of countries looking to build a strategic bitcoin reserve, including the United States, El Salvador, Brazil, Poland, and others. An initiative led by the United States and President-elect Donald Trump, the U.S. is looking to build a strategic bitcoin reserve of over 1 million bitcoin, which appears to have caught the attention of certain n officials.

Just five days ago, n president Vladimir Putin publicly stated that no one can ban or prohibit the use of Bitcoin, and that it will continue to develop. Earlier this year, Putin also signed a new law legalizing Bitcoin and cryptocurrency mining within the country.



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