Special representative of the President of Russia said that the country is not yet ready for release and circulation of cryptocurrency.

During an interview with news Agency RIA special representative of the President on matters of digital and technological development Dmitry Peskov talked about the need for a cautious approach to cryptocurrency that applies to the issues of state regulation and to use “new form of money” by citizens.

“We are not legally crushed at the start of the blockchain and cryptocurrency, trying to get them in the regulatory field. But the government must honestly warn everybody that the likelihood that you will fall in MMM 2.0, the maximum”, — said Peskov.

He noted that the official position of the Central Bank regarding the regulation of cryptocurrencies even too soft “very liberal”, while “the threat level is so great that this position could be tougher”.

Moreover, according to the special representative of the President, issue and circulation of cryptocurrency without the clarification of all legal issues is contrary to the basic principles of the state:

“Emission and treatment of cryptocurrencies yet impossible to resolve. This is contrary to the basic functions of the state. The sequence is important. If we are on a common level of accepted the bill on the principles of working with liberalite, the next step can be to discuss the implementation of these principles in everyday life. But it is wrong to do the opposite,” — said Peskov.

From his point of view, the most successful step in the direction of the legal development of the cryptocurrency sector in accordance with the legislation is the creation of a “regulatory sandbox” that will analyze “all aspects of the work” with cryptocurrency.

Director of program “Young professionals” Agency for strategic initiatives (ASI) Dmitry Peskov was appointed special representative of the President in July of this year.

Earlier, in June, Vladimir Putin answered the question about cryptocurrency during the annual Direct line. The President said that Russia can not have its own cryptocurrency by definition, because it is that “goes beyond national borders”. He also mentioned that while the state does not regulate mining of cryptocurrencies and treats him “very carefully.”

As you know, clearly establishing the legal status of cryptocurrencies, mining and the initial offering of coins (ICO) in Russia yet. The draft law “On digital of financial assets”, prepared by the Ministry of Finance in March this year, in may, was passed by the State Duma in the first reading in may. The second reading, which was held in July, was postponed for the autumn.

As Dmitry Peskov noted a few days ago, he is convinced that Russia should not be first in the innovation sector, which involves not only disruptive innovation, but “all the flaws”. According to the expert, in this space, it is wiser to adopt a “fast second”.