President Putin’s Press Secretary: Russia ‘Not Ready’ to Adopt Bitcoin

Dmitry Peskov, the acting press secretary for Russian President Vladimir Putin, said Friday that Russia has no reason to recognize Bitcoin, according to the RIA Novosti news agency.

In response to questions following the enactment of El Salvador’s law making Bitcoin legal tender, Peskov said the country is “not ready for such steps.’

In his statement to the press, Peskov said that he is unconvinced that adopting Bitcoin would bring any benefits to the Russian Federation.

He added that Bitcoin is a “quasi-currency” and said that he believes equating it to official fiat monetary instruments wouldn’t do anything but harm the country’s domestic financial system.

The Russian Chairman of the State Duma Committee on the Financial Market however, is not so quick to dismiss Bitcoin altogether.

Antoly Aksakov seeks regulatory clarity on Bitcoin, and defines mining as a type of entrepreneurship according to a local news outlet.

On Wednesday, Aksakov commented on the state of Bitcoin mining in Russia:

“Since this is a type of entrepreneurial activity, obviously, it is necessary to enter it into the register, assign a code to it corresponding to it as a type of entrepreneurial activity and introduce taxation,” he said.

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