Putin Explains Why There's Little Chance to Implement Idea of World Currency

© Sputnik / Aleksey Nikolskyi / Go to the mediabankJuly 21, 2017. Russian President Vladimir Putin answers questions during the No Nonsense Talk with Vladimir Putin held at the Sirius educational center for gifted children, Sochi.
July 21, 2017. Russian President Vladimir Putin answers questions during the No Nonsense Talk with Vladimir Putin held at the Sirius educational center for gifted children, Sochi. - Sputnik International
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There is little chance to implement the idea of world currency at present, but it may be possible in the future, Russian President Vladimir Putin said Friday.

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MOSCOW (Sputnik) – According to him, he is "cautious" about using bitcoins and other cryptocurrencies because "almost nothing is regulated in this area at the moment."

"This is a good idea, but it is hard to implement it," Putin said speaking to children of the Sirius children’s center in Sochi, when asked about the prospects of a world currency.

Bitcoin is one of the most popular cryptocurrencies based on blockchain technology, with data distributed on multiple computers and no central server. Each block of data in a blockchain contains a timestamp, which makes it able to track transactions.

Russia's Central Bank (CBR) suggested classifying cryptocurrencies, including bitcoin, as digital goods, for the purposes of taxation.

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