Speaking at the conference «Banks. Transformation. Economy. 2.0» Deputy Finance Minister Alexey Moiseev called cryptocurrencies «evil». «Crypto is generally evil. I believe that people who invest their savings there are taking a great risk. This is our position, shared with the Central Bank», Moiseev said.

However, the Deputy Minister believes that «crypto» has advantages compared to conventional means of payment. «There are a number of advantages. This is the absence of cross-border accounts, the ability to instantly conduct transactions almost without compliance in a number of countries and so on. And it can and should be used where it is possible and feasible», said Moiseev.

In Russia, cryptocurrency turnover is not regulated. But the Committee on Financial Markets of the State Duma is already considering a bill in which will be written the possibility for miners to sell «crypto» subject to declaration and transparency of all operations. Also, the bill will establish an experimental legal regime for conducting foreign trade settlements with cryptocurrency.