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Saint Petersburg Assembly Chief: Bitcoin is not a ‘people’s currency’

Saint Petersburg Assembly Chief: Bitcoin is not a 'people's currency'

The chairman of the Saint Petersburg Legislative Assembly, Vyacheslav Makarov, said that he has never owned bitcoins and believes that cryptocurrency is not a ‘people’s currency’, according to Fontanka.

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“Digital currency is an asset for those who understand it well and who deal with it professionally. I have never owned this, and I am sure that I will never own it,” he said.

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During Wednesday’s session, March 17, lawmakers backed in principle a bill obliging officials and deputies to report on their holdings of cryptocurrencies.

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Earlier in December last year, President Vladimir Putin signed an order, which obliges officials and candidates for relevant positions to provide information on their digital financial assets (DFA).

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The media also reported that the Ministry of Labour has prepared a bill on mandatory declarations of DFA transactions and digital currencies for candidates for elected offices.

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