During our discussion with the Central Bank and the government of the Russian Federation, I asked to form a unanimous opinion on regulation in the field of cryptocurrencies

Vladimir Putin, President of Russia

The President of the Russian Federation is also sure that in this area the country has advantages over others in the field of mining:

Naturally, we also have some competitive advantages here, especially in the field of so-called mining, I mean not only a surplus of electricity, but also the qualified personnel available in the country.

Vladimir Putin, President of Russia

On January 20, the Central Bank of Russia published a report on cryptocurrencies, in which it put forward a proposal to ban the circulation of cryptocurrencies in the country and their production. The report received a huge response, and it was opposed, in particular, by the Ministry of Finance of the country.