Russia to push regulatory oversight on cryptocurrency

11 Oct 2017

In the statement from the Russia’s President’s office, Mr Putin and financial officials urged for more regulation around cryptocurrency, on a high level meeting held on Tuesday 10th October. Problems like money laundering and tax evasion are the main reason for proposed regulation. After this meeting, finance minister Anton Siluanov stated that Russia agreed on regulating crypto-industry. Earlier this month, deputy governor of Russian Central Bank announced that Russia will support efforts to: ‘block access to external websites selling cryptocurrencies in the country’. Regulation is expected to be introduced until the end of 2017.

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The digital currencies story is a continuation of the long-running saga of economics, markets, and commodity exchange in human society. With the constant rise of the global network, we have witnessed many global services becoming widely accepted and in a way changing (by adding to) our experience of mutual interaction.

 

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