Russian leader Putin gets another puppy as gift

Russian leader Putin gets another puppy as gift

In Russia, the status of cryptocurrencies, including bitcoin, is not now regulated by law.

They count technology enthusiasts, speculators attracted by big price swings and libertarians skeptical of government monetary policy among their fans worldwide.

President Putin said at the meeting that the use of cryptocurrencies carries serious risks, being an opportunity for laundering criminal capitals, evading taxes and financing terrorism, for spreading fraudulent schemes, where citizens may become victims.

"That's why we have agreed that the state should regulate the issuing of cryptocurrencies, their mining and turnover".

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"We need to take the global experience as the basis and build a regulatory environment that would allow us to systematize relations in the field, protect the interests of citizens, businesses and the state, and provide legal guarantees for working with innovative financial tools", concluded President Putin.

Siluanov's comments echoed his earlier calls to control and supervise the market for virtual currencies. The meeting was attended by Presidential Aide Andrei Belousov, Finance Minister Anton Siluanov, Russian Central Bank Head Elvira Nabiullina, her deputy Olga Skorobogatova, and Qiwi Russian payment service CEO Sergey Solonin.

"I won't speak about specific parameters now but in general we agreed that the state should take a lead in this process and to regulate it on the legislative level", the finance minister said. One bitcoin last traded at around $4,762, up from its initial price of less than $1.

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