According to a local news source ‘RIA,’ the president’s Special Representative on digitaland technological development ‘Dmitry Peskov’ mentioned hisvisionon the state of crypto assets in an interview with RIA, saying:
“Fromthe beginning,we’venot suppressed blockchain and digital currencies, andare attemptingto bring them into a normativepace.Howeverthe govtshouldofferwarnings, thatthere’sa high risk associated with this new MMM 2.0 Scheme (famous pyramid scheme).”
Peskovadded further saidthat the official position of the Russianfinancial bankson crypto was too soft. “The associated threat level is very high and the stand adopted against it,might have beenstricter.”Moreover, Peskov argued that theissuingof cryptocurrencies is contrary to basic state principals:
“Theissuingand circulation of digital currencies cannothoweverbeallowable. It contradictsthe fundamental functionsof state. Orderis vital. Ifweadopt a bill on the principles ofoperatingwith digital currencies onthe govtlevel, thenwe are able todiscuss the implementationof thoseprinciples ineveryday life’s.Howeverit’s not rightto try and dothis in reverse.”
According to Peskov,the simplestmove forward for the legal development of the crypto spherewithin thecountry would beto makearegulativesandboxto research“all aspects of work” with digital currencies.
Earlier this year Russian president ‘Vladimir Putin’ himselfaddressedthe crypto questionthroughouthis annual live question and answer session.Vladimir Putinaforementionedthat Russia cannot have its own digital currency, as digital currency “by definition”can’t becontrolled by a centralized entity. Heconjointlynoted thatwhereasthe govtdoesn’tregulate crypto mining, it “treats itterriblyrigorously.”
Thepositionof cryptocurrencies, mining, and ICO’s inhowever notclearlyoutlinedin Russia. A draft law “On DigitalFinancialAssets,”thatwasmadeby the Russian Ministry of Finance in March this year was accepted by the State Dumawithin the1stofthreereadings inmay.In line withRIA, the 2nd reading is expected to take take place sometime later in this year.