Russian authorities have agreed
to regulate the cryptocurrency market, Finance Minister Anton
Siluanov said on Wednesday, cited by TASS news agency.

The minister’s comment comes the day after President
Vladimir Putin discussed the issue with Siluanov, Central Bank
Governor Elvira Nabiullina, presidential economic aide Andrey
Belousov, and Sergei Solonin, the head of online payment company
Qiwi.

Putin said on Tuesday cryptocurrencies were risky and used
for crime. Russia’s central bank has said it would block
websites selling bitcoin and its rivals to households.

“The president has spoken of the problems related to
crypto-currencies. These are difficulties regarding … money
laundering and cases that are related to identification issues,”
TASS quoted Siluanov as saying.

“That’s why we have agreed that the state should regulate
the issuing of crypto-currencies, their mining and turnover. The
state should take all this under control,” Siluanov said.

Siluanov’s comments echoed his earlier calls to regulate the
market for virtual currencies. Siluanov, however, has not
elaborated yet on how his ministry sees regulation of the
crypto-currencies market.

Bitcoin, the most well-known virtual currency that emerged
in mid-2010, is increasingly popular worldwide and in Russia as
it promises substantial profits. One bitcoin last traded at
around $4,811, up from its initial price of less than
$1.
– Reuters