Putin: Russia Has Advantages In Bitcoin Mining

Russian President Vladimir Putin on Wednesday said the country has distinctive characteristics that allow it to benefit from bitcoin mining while its central bank last week called for a complete ban of the activity in the country as it worries cryptocurrencies could pose risks to its citizens.

Putin also asked the Bank of Russia to reach a consensus with the country’s Ministry of Finance, who on Tuesday discouraged a complete prohibition of bitcoin trading and mining in the country, citing how such a move could hurt Russia’s ability to compete in the technology sector.