Russian Bitcoin critic says he bought BTC for 100 rubles

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Anatoly Aksakov, a member of Russia’s State Duma and a key spokesman for the country’s cryptocurrency legislative process, claimed he never owned Bitcoin (BTC).

Aksakov said he doesn’t own and likely won’t hold bitcoin as the government banned officials from buying crypto, local TASS news agency reported Thursday.

The official went on to say that he was ready 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 just wanted to buy to collect. But Bitcoin was already up 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 argued that Bitcoin shouldn’t be available to unqualified investors due to its extreme volatility. He also went into the development of the Russian crypto tax system, noting that crypto tax reports are currently being produced on a voluntary basis as a bill that would make reporting mandatory has only passed its first reading in parliament.

Aksakov is a prominent finance official in Russia who serves as the chairman of the Financial Markets Committee of the Russian State Duma as well as a member of the National Bank Council of the Bank of Russia. Aksakov has emerged as a major Bitcoin critic and predicted last year that BTC had no future.

Aksakov’s remarks come shortly after another regulatory initiative proposed partially lifting the country’s ban on crypto payments in late May. The country officially enforced the ban in January under its key cryptocurrency law, “On Digital Financial Assets”.