Vladimir Putin Mentioned Russia’s Advantages in Crypto Mining

by in Cryptocurrency News

Vladimir Putin Russia crypto

The president of Russia, Vladimir Putin does not totally agree with the position of the country's Central Bank that crypto mining and trading should be banned.

Related: Putin Says Crypto Has Value, but Its Usage Is Limited

Today, during the meeting with the government members, Putin talked about crypto regulations.

Referring to the paper released recently by the CB, Putin said that he is aware of the ongoing discussions. The Russian president noted that the crypto industry is regulated by the Bank of Russia, and the institution aims to prevent possible risks, thus protecting residents of the country from losing money.

At the same time, Putin mentioned that Russia has several advantages in the sector, particularly in crypto mining due to electricity surplus and well-trained experts.

The president said that he instructed the CB and the government to reach some kind of consensus in the course of the discussion, preferably in the near future, and report about the results. Data show that Russia is one of the top countries by Bitcoin mining in the world.