Following recent reports that suggested that Russian authorities are discussing the idea of creating the country’s own state-controlled digital currency, Press Secretary of the Russian President Dmitry Peskov has clarified that no such discussions are going on.

The news about Russia’s own cryptocurrency highly circulated in the media following Kommersant’s report that stated that Pavel Livadny, a deputy director of the Federal Financial Monitoring Service, said that the Russian Ministry of Finance is holding discussions with regulators and banks to come up with the country’s own state-controlled cryptocurrency.

However, Russian News Agency TASS reported that Peskov issued a statement on matter on Friday, saying:

"No, the Kremlin is not discussing such an idea," Peskov said.