Russian President Vladimir Putin said at the VTB Capital Forum that the crypto market currently carries some risks and the level of regulation to be brought to the crypto industry will depend on these risks.
According to Vladimir Putin, digital assets are highly volatile and carry significant risks. Putin:
When it comes to crypto, it is widely used in some countries and economies, while in others it is banned. But in my opinion there is nothing behind crypto, it has high volatility and carries significant risks. I think listen to people who talk about high risks.
said.
In addition, Putin stated that cryptocurrencies do not pose a risk to digital central bank money (CBDC). Stating that Russia will act depending on the risks of cryptocurrencies, the President of Russia also underlined that regulations will be made that will allow the crypto sector to develop without completely banning it.
In an interview with CNBC in November, Putin said:
“Cryptocurrencies have a right to exist. To transfer money from one place to another – yes, but not yet mature enough, in my opinion, specifically to trade energy resources.”
said.
In the same interview, he stated that there is nothing behind cryptocurrencies and they are unstable.
Putin, who authorized the Russian Prosecutor General’s Office in May 2021 to prevent international illegal transactions with digital assets, instructed the Russian Finance Minister and Central Bank in October 2021 to prepare proposals within the National Anti-Corruption Plan to regulate digital currencies and digital assets.