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Anatoly Aksakov, a member of the Russia’s State Duma and a key spokesman for the nation’s cryptocurrency laws course of, claimed that he has by no means owned any Bitcoin (BTC).

Aksakov mentioned that he doesn’t maintain any Bitcoin and certain will not, as the federal government has prohibited officials from purchasing crypto, native information company TASS reports Thursday.

The official went on to say that he was prepared to purchase some Bitcoin as an funding earlier than the ban got here into pressure final yr. Nonetheless, he thought that the worth was too excessive on the time:

“I wished to purchase solely to be able to accumulate. However Bitcoin had already surged an excessive amount of, and I used to be upset about spending cash. If it had value 100 rubles, I’d have purchased it.”

Within the interview, Aksakov additionally argued that Bitcoin shouldn’t be accessible to unqualified traders attributable to its excessive volatility. He additionally touched upon the event of Russia’s crypto tax regime, noting that crypto tax reviews are at present made on a voluntary foundation as a draft invoice that may make reporting obligatory has only passed its first reading in parliament.

Aksakov is a serious monetary official in Russia who serves as chairman of the Russian State Duma Committee on Monetary Markets in addition to a member of the Financial institution of Russia’s Nationwide Banking Council. Aksakov has emerged as a serious Bitcoin critic, predicting final yr that BTC had no future

Aksakov’s remarks come shortly after one other regulatory initiative instructed to partially lift the country’s ban on crypto payments in late Might. The nation officially enforced the ban in January as a part of its main cryptocurrency legislation, “On Digital Monetary Property.”