Cryptocurrencies ‘bear high risks’ says : Vladimir Putin

  • Putin called for the greater monitoring and regulation of cryptocurrencies and pointed out that certain countries worldwide are seeing significant adoption of digital currencies.
  • Currently, cryptocurrency regulation is still in its infancy in Russia.
  • No regulation exists in the country regarding cryptocurrency mining. This has led some to claim that $2 billion in crypto mining revenue is generated annually in Russia, but on that, no taxes are paid.