All news

Russia cannot have its own cryptocurrency by definition, says Putin

Cryptocurrency goes beyond national borders, the president explained

MOSCOW, June 7. /TASS/. Russia cannot have its cryptocurrency by definition, just as any other country cannot have its cryptocurrency, President Vladimir Putin said during his annual Q&A session on Thursday.

"Russia cannot have its cryptocurrency inherently, just like no other can have its cryptocurrency,’ the head of state said.

"This is because when we are talking about cryptocurrency, this is what goes beyond national borders," Putin said.

Cryptocurrency should not be the means of payment and hoarding, the Russian president noted.

"The Central Bank believes that cryptocurrencies cannot be means of payments and settlements, cannot be means of hoarding and are not secured by anything," the head of the state said. "All this proves that we should treat them by rule and line, cautiously," Putin said.