During a TV show, Vladimir Putin, answered several questions about the future of virtual currency.
According to the president, Russia will not create cryptocurrency because it is by definition international.
During a show on the television channel Rossiya 24, rebroadcast on Youtube, the Russian head of state was questioned on various topics including crypto-currencies.
As Bitcoin.com and CoinTelegraph report, the first question was about the creation and adoption of a cryptocurrency by the state. Mr Putin replied:
"Cryptocurrency has its place. However, no state can own hers. A digital currency is by definition decentralized and transcends borders. "
Last January, the Central Bank of the Russian Federation discussed the creation of a multinational cryptocurrency with the BRICS and WEU countries.
The second question was about cryptocurrency as the usual means of payment, the president said:
"For the Central Bank, cryptocurrency is neither a means of payment nor a safe haven. Nothing supports cryptocurrency today and we must treat it with care. "
He added :
"Nevertheless, such a revolution has its place in the world. We need to watch this phenomenon closely, understand how to use it and participate in it. "
Mr Putin then drifted on cryptocurrency mining in Russia, he announced on this subject:
"The so-called mining is not regulated in Russia. However, the situation should change with the adoption of new legislation under examination by the Duma. "
Finally, the president mentioned the recent blocking of the Telegram application widely used by Russian crypto-traders:
"The ban is the simplest way but we are also looking for more civilized ways to solve the problem."
Following the refusal of Telegram to communicate the encryption keys to decode the messages sent by users, Russia had then pronounced the blocking of the application.
A few days ago, Reuters also reported that the Moscow Stock Exchange was preparing a new system for companies to launch their ICO. The project should see the light of day by the end of the year.