In an annual press conference called the "Direct Line", Russian President Vladimir Putin provided answers to questions about the future of cryptocurrency in Russia without clarifying the situation.
Blogger Artem Khokholikov addressed three questions related to cryptomonads:
"Will Russia have its own crypto? Will this be controlled by the government? Do you think in the near future cryptocurrency will completely replace fiat coins? "
Putin said Russia can not have its own cryptocurrency. Because by definition it is decentralized and can not be restricted to borders. He also mentioned the mining process, which Russia does not currently regulate, but which he "treats with care".
On the use of digital currency as a form of payment, similar to fiat currencies, Putin said that although countries like Japan have already accepted the system does not work in other countries because they have another method of issuing money:
"The Central Bank of the Russian Federation does not consider cryptomonads a method of payment or a deposit of value because they are not supported by a physical asset. Care should be taken with caution. "
The position of the Russian President is as logical as the ruble is now a currency based on the country's gold reserves and is one of the most stable in the world from this point of view.
However, Putin is of the opinion that Russia must pursue this world phenomenon with great care to establish the most advantageous way to "participate in the process". One aspect to be considered is "how crypto can be used to avoid restrictions in the international financial activities", a reference to potential criptomonedelor to avoid economic sanctions imposed by the US and international organizations.
The "Direct Line" is an annual live television broadcasting event that allows the public to address direct questions to the president, which most often clarifies the economic and social policies to be adopted by the government. The fact that the subject of crypto was addressed in this session signals the general interest shown in this area and indicates that the authorities will take action in this regard in the near future.
Moreover, in late May, the Russian State Duma approved a law on "digital goods" includes regulations on crypto industry following the law to be adopted from 1 July.
