Crypto ban: Now Putin speaks out

Vladimir Putin has urged his government and the Central Bank of Russia for a “timely” decision on a potential crypto ban. The President did not reveal any personal preference.

At the start of a recent online meeting of the Russian government, Vladimir Putin also addressed Bank Rossii ’s circulating crypto ban .

In his speech, he repeated the assessment of the Russian central bank, especially with regard to the volatility of cryptocurrencies. However, he also emphasized the advantages that the Russian mining location has over other nations.

Specifically, he said: “We have certain competitive advantages here, especially in so-called crypto mining. By that I mean the surplus of electricity and the well-trained teams in the country.”

Putin did not indicate a specific preference for the crypto ban. The parties involved should enter into dialogue and come to a “prompt” decision-making process, the 69-year-old demanded.

Most recently, the Russian Ministry of Finance objected to the central bank's ban.

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