Anatoly Aksakov, a member of Russia’s State Duma and a key spokesman for the country’s digital currency legislation process, has stated that he has never owned Bitcoin (BTC).
Aksakov said he does not have Bitcoin and probably will not, as the government has banned officials from buying digital currency, local news agency TASS reported on Thursday.
The official went on to say that he was willing to buy Bitcoin as an investment before the ban went into effect last year. However, he thought the price was too high at the time:
“I wanted to buy just to accumulate. But Bitcoin had already gone up too much and I was upset to spend money. If it had cost 100 rubles, I would have bought it.”
In the interview, Aksakov also argued that Bitcoin should not be available to unqualified investors because of its extreme volatility. He also referred to the development of Russia’s cryptocurrency regime, noting that cryptocurrency tax reporting is currently being done on a voluntary basis, as a bill that would make reporting mandatory has only past his first reading in parliament.
Aksakov is a prominent financial official in Russia who serves as chairman of the Financial Markets Committee of the State Duma of Russia, as well as a member of the National Banking Council of the Bank of Russia. Aksakov has become a major critic of Bitcoin, and last year predicted that BTC had no future.
Aksakov’s comments come shortly after another regulatory initiative suggested partially lifting the country ban on cryptographic payments in late May. The country officially enforced the ban in January as part of its main digital currency law, “On Digital Financial Assets”.