Russian Authorities Receive Putin’s “Signal” to Spearhead Cryptocurrency Mining

News and Analysis

In the latest twist of events, Russian government claimed it intends to “head and legally regulate” issuance and turnover of cryptocurrencies.

The country’s minister of finance Anton Siluanov stated after a meeting with president Vladimir Putin:

“We agreed that the government has to regulate the process of issuance, mining, and turnover of cryptocurrencies.”

Mr. Siluanov, however, did not mention any particular measures the government intends to use. It is also unknown which government entity would be responsible for cryptocurrency regulation.

A day earlier, Vladimir Putin stated that he shares the Central Bank’s concerns regarding fraud involved in cryptocurrency, yet asked “not to pile up unnecessary barriers” while preparing a regulatory framework for cryptocurrencies.

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