Crimean authorities consider using cryptocurrency instead of US dollars

The Deputy Chairman of the Crimean Council of Ministers, Georgy Muradov, said that Crimean authorities appealed to the General Director of the Russian Agency for Strategic Initiatives Svetlana Chupsheva with a request to support the initiative for the creation of a regional experimental cryptocurrency platform, reports

On April 19, advisor to the Russian President Sergey Glazyev proposed to introduce digital money technologies in the Crimea to reduce cross-border restrictions and attract investors.

Muradov explained that digital money, such as cryptocurrencies or the so-called “stable coin”, that are tied to gold or other tangible assets, "can easily cross the border, and they do not fall under sanctions."

"We have no dollars. The cryptocurrency could be one of the ways out of our situation. And the Crimea, being under sanctions, could become such an experimental platform. It would be important for us to see your support of these initiatives at the Federal level," said Muradov at a meeting of the Council for improving the investment climate in the country.

  Russian, Ukraine, Crimea