Putin spoke about digital platforms, crypto and bill

At a meeting with leaders of the Russian print media and news agencies, Russian President Vladimir Putin said on cryptocurrency, digital platforms and the forthcoming bill in this area.

The Central Bank is behaving in relation to the conservative cryptocurrency, cryptocurrencies because there is no collateral and they may not serve as a means of accumulation, but only the settlements, said the President of Russia.

«Today, questions of the legislation on cryptocurrencies is the prerogative of the Central Bank to a large extent. These powers until the Bank is sufficient. In General, of course, in the future probably will need legislative regulation,» – said Putin.

The President stressed that the cryptocurrency may be a medium of exchange but not a means of accumulation, since it has no security.

«The conservatism of the Central Bank on cryptocurrency yet is unfounded, because we know that cryptocurrency is nothing, it cannot be a means of accumulation, there are no material assets, (she) is not secured, it may be to a certain extent and in certain situations a means of payment, it is done quickly and effectively», – Putin said.

He also reminded that the risks in the situation of cryptalgname take themselves citizens before she entered the legal field.

«If we will adjust… then the state will be responsible for the situation in which people can get. Now it is mostly the responsibility of the person», – said the President.

He noted that the state now is able only to prescribe what is possible and what is not in relation to cryptocurrency and if there are inaccuracies, there are problems similar to currency mortgage, as citizens are warned about the danger of investing in this form of lending, Recalling the exchange risks.

«But when it happened, everyone forgot about it. I forgot everything and dissociate it as if it was not, it was the same, the warnings were, but no one listens to», – Putin said.

The President also said that with the elaboration of the bill on digital technology to the experts. He stressed that any regulation restricts the freedom of business activity, holding back, something that is sometimes reasonable, but something is holding back and need time to remove.

In matters of popular digital platforms Putin also pointed out certain risks for Russia. He believes that the country needs to avoid dependence on foreign digital platforms that are created primarily in the West.

«We are now working hard to create a single platform in the framework of the Eurasian economic Union. This can be done and to do it on an equitable basis, sharing risks and activities between all participants so that we were slaves to existing platforms, and to create their own. We can do it», – he said.

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