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Anatoly Aksakov, a Russian official, said he wanted to acquire Bitcoin before the ban, but the price was prohibitively expensive.
Anatoly Aksakov, a member of Russia’s State Duma and a prominent speaker for the country’s cryptocurrency legislative process, stated that he has never purchased Bitcoin (BTC).
Aksakov said that he doesn’t hold any Bitcoin and likely won’t, as the government has prohibited officials from purchasing crypto, local news agency TASS reported on Thursday.
The official went on to say that he was willing to buy some Bitcoin as an investment before the ban came into force last year. However, he thought that the price was too high at the time:
“I wanted to buy only in order to accumulate. But Bitcoin had already surged too much, and I was upset about spending money. If it had cost 100 rubles, I would have bought it.”
In the interview, Aksakov also stated that owing to Bitcoin’s tremendous volatility, it should not be offered to unqualified investors. He also discussed the evolution of Russia’s crypto tax policy, adding that crypto tax reports are now optional, since a draught bill making reporting necessary has only passed its first reading in parliament.
Aksakov is a senior Russian financial figure who chairs the Russian State Duma Committee on Financial Markets and is a member of the Bank of Russia’s National Banking Council. He has emerged as a big Bitcoin sceptic, stating that BTC has no future last year.
Aksakov’s words came shortly after another governmental proposal proposed in late May to partially ease the country’s prohibition on cryptocurrency payments. The restriction was formally enacted in January as part of the country’s key cryptocurrency regulation, “On Digital Financial Assets.”