MOSCOW (Sputnik) — The spread of the Bitcoin cryptocurrency in Russia does not threaten the country's financial system, Russian Deputy Finance Minister Alexei Moiseev said Tuesday.
"All of this does not pose much of a danger to the public, as it has not taken on a mass character that could pose a threat to our financial system right now… In the future, it could possibly emerge given that it is not regulated," Moiseev told reporters.
The ministry has so far put its legislative initiatives on hold, Moiseev said, adding that the pause has been made to look into the development of cryptocurrency regulations across the world.
"We have a chance to wait for a while in order to see how the situation unfolds," he said.
In August, Moiseev said that the Finance Ministry was unlikely to ban cryptocurrencies but stressed that bitcoins were linked to criminal activities, including extortion, money laundering and terrorism.