Circulation of cryptocurrency is still impossible to resolve: President’s Representative
The circulation and issuance of cryptocurrency is impossible to reconcile, feels Dmitry Peskov, a special representative of the Russian President
In an interview with local news agency RIA, he explained his view on the condition of digital assets.
“We have not crushed the blocking and cryptocurrency at the start, trying to bring them to the normative field, but the state should honestly warn everyone that the likelihood that you will get to MMM 2.0 is the maximum here,” he said.
He stated that the Russian Central Bank is one of the most liberal financial body in regulating cryptocurrencies.
“The central bank is, from my point of view, the most liberal position in the sphere of regulating crypto-currencies. The threat level is so high that the position could be stricter,” he added.
According to him, the method of creating regulatory bodies within which it would be possible to analyze all methods of working with crypto-currencies is the most promising.
The President’s thoughts
earlier this year in June, the President himself spoke about the regulation of cryptocurrencies during the question and answer session.
“The relationship of the Central Bank of the Russian Federation to cryptocurrency [is that] it considers cryptocurrency neither a means of payment nor a store of value. Cryptocurrency is not backed by anything. One should treat it cautiously, carefully,” he said.
In Russia, the legitimate status of cryptocurrency, its mining, and ICOs, is not yet defined. In the month of March, the State Duma introduced three bills designated to remove this gap and also create a regulation towards a digital economy.
The Bank of Russia has been stating that it doesn’t consider it authorized to exchange cryptocurrency for fiat cash or for that matter, even property. This is because it is difficult to identify the owner and also the possibility of legalizing questionable transactions will open. It also believes that it is possible to resolve exchange for tokens only within that of Russian ICOs that have no payment function
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