Putin backs cryptocurrency rules, but requests regulator to not create unnecessary obstacles

posted 11 months ago
In a meeting with the head Central Bank of Russia, President of Russia Vladimir Putin said:
“Cryptocurrencies are becoming ... very popular; in certain countries they are becoming or have already become legal tender, as well as an investment asset… their are advantages that are offered by new technological solutions in the banking sphere. That said, the use of cryptocurrencies also carries serious risks… As is known, many countries are looking for ways of regulating the circulation of cryptocurrencies and are beginning to create the necessary legislative framework, a legislative regulatory system. At the same time it is important not to create unnecessary barriers, of course, but rather to provide essential conditions for advancing and upgrading the national financial system.”

Russian President Vladamir Putin formally recognizes cryptocurrency gaining in popularity, as well as international legalization. He discusses the advantages and disadvantages and mentions regulating cryptocurrencies.
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