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Bitcoins / Breaking News / Cryptocoins

Putin Aide believes Russia isn’t ready for Crypto

Russian advisor ‘German Klimenko’ told reports that a state-owned cryptocurrency exchange in Russia, is too early.

“The crypto-ruble and the cryptocurrency are not regulated legislatively in my understanding. Therefore, speaking about the cryptocurrency exchange is like skipping ahead a full step,” Klimenko noted. Nobody has offered a solution yet on how to take cryptocurrencies out of the “gray zone,” he noted.

“Firstly, they [cryptocurrencies – TASS] should be legalized and formalized – no such decisions are in place to date. So, the time isn’t ripe for talking about the cryptocurrency exchange,” the presidential aide explained.

President Putin said in October that using cryptocurrencies carries out major risks, one of which is criminals laundering money, and evading taxes. However, Putin would be willing to take advantage of new technological solutions within the banking sector.

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