"It is important for us in Russia, as they say, not to miss the moment, to set up a legal framework and regulation in a timely manner, to develop infrastructure, to create conditions for the circulation of digital assets, both within the country and in relations with foreign partners," Putin said at the meeting on economic issues via video link.
Putin also called digital currencies a dynamic and promising sector that was becoming increasingly popular globally.
Russia has already made serious progress in the development and regulation of the circulation of digital financial assets, the president also noted.
"We have already made serious progress in this area [controlling the circulation of digital assets], and colleagues today, I hope, will report on the current results and future plans," he said.
It is necessary to move to the widespread introduction of the digital ruble in various sectors of the economy, the president said, adding that timely systemic decisions on the regulation of mining of digital currencies should also be made.
Almost 1.5% of the total electricity consumption of Russia is spent on mining cryptocurrencies, Putin added.
"According to the estimates of the Ministry of Energy, 16 billion kilowatt hours are spent annually in Russia for these purposes, that is, almost 1.5% of the total electricity consumption in the country, and the figure continues to grow," he emphasized.