Berdymuhamedov gives Putin Turkmen alabai pup as a birthday gift

Berdymuhamedov gives Putin Turkmen alabai pup as a birthday gift

Kremlin press service informed that the Russian President made the statement on cryptocurrency at the meeting on application of digital technologies in the financial sector and introduction of innovative financial tools.

"I won't speak about specific parameters now but in general we agreed that the state should take a lead in this process and to regulate it on the legislative level", the finance minister said.

The position of Russia's Finance Ministry on cryptocurrencies regulation, particularly regarding restrictions on purchase and sale transactions, was generally welcomed at the meeting focused on the cryptocurrencies issues headed by President Vladimir Putin, Deputy Finance Minister Aleksei Moiseev said Wednesday.

Crypto-currencies are issued by an unlimited circle of anonymous entities, and their buyers are likely to be involved in illegal activities. In case of system failures or "bubbles", there won't be a legally responsible subject.

"We need, based on global experience, to build a regulatory environment that will systematize relations in this area, to protect, of course, the interests of citizens, business, and the state, to provide legal guarantees for working with innovative financial instruments", he said. At the same time, he added, one should not build new barriers, but create necessary conditions for the further development and improvement of the national financial system.

According to Siluanov, it is necessary to design and adopt bills to regulate the mining and circulation of cryptocurrencies. "Now we have one common friend, the world's one-of-a-kind dog called the Alabai".

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