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Leningrad Region Wants Bitcoin Legalized

09 July 2017 21:00, UTC
Heads of two entities of the Leningrad region, the Slantsy district and Ivangorod city as well as the Deputy of the region’s Legislative Assembly formally requested the Bank of Russia to legalize the circulation of cryptocurrencies in the border areas of the Leningrad region.

According to the authors of this idea, bitcoin legalization “will increase the attractiveness of Kingiseppsky and Slantsevsky districts to neighboring Estonia, and Vyborgsky district which is located near the border with Finland”.

Vladimir Petrov, Deputy of the region’s Legislative Assembly, explained that the region borders with several European countries where bitcoin adoption is much further ahead of Russia. However, transit passengers from border countries arriving in Russia may not have the correct currency to pay for services. That s why legalization of cryptocurrency payment in border areas could seriously increase the number of tourists both from the European and Russian side.

The Russian ombudsman for business rights Dmitry Marinichev supported this idea and added that he often uses technological innovations in his life. “In general, I support the idea of using cryptocurrencies. Even though the proposal is of populist nature, I support it because so many people are beginning to understand how it functions”, the ombudsman said.