Vladimir Putin: “We have competitive advantages in mining”

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Russian President Vladimir Putin called on the pro-crypto ban Bank of Russia and pro-regulation government officials to reach an agreement.

Putin raised the topic of the crypto industry at a meeting with members of the government on Wednesday, January 26. He assured everyone that he is closely watching the discussion that has unfolded about cryptocurrency regulation.

The Central Bank, according to the president, is right in its own way, worrying about the risks for citizens, given the “great volatility and some other components of this topic”:

“Although, of course, we also have certain competitive advantages here, especially in the so-called mining. I mean the surplus of electricity and the well-trained personnel available in the country.”

This means, according to Putin, that the Central Bank and the government should “hold a discussion” in the near future and report on the results. After all, in fact, the head of state is sure, the Central Bank has always supported promising technologies:

“The Central Bank does not stand in the way of technical progress and is making the necessary efforts to introduce the latest technologies in this area of ​​activity.”

On January 20, the Bank of Russia made a report in which it proposed to introduce a ban on the issuance, circulation and exchange of cryptocurrencies in the country. The position of the regulator was criticized by the Ministry of Finance and representatives of the business community. In the State Duma, the proposals of the Central Bank were called capable of “making Russia a laughingstock for the whole world.”

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