Russia has suspended cryptocurrency

MOSCOW, Sep 26 - PRIME, Natalya Karnova. The Russian authorities can not put an end to the discussion about cryptocurrencies. The solution to the issue has again been postponed - according to Deputy Finance Minister Alexei Moiseev, the Russian authorities have decided not to introduce regulation of cryptocurrencies yet, but will concentrate on the legalization of blockchain technology.

The positions of departments, which are largely different from each other, have not come closer, the deputy minister explained. Therefore, it was decided to observe how the situations with cryptocurrencies develop.

EQUALITY IN CHINA

When developing the regulation of cryptocurrencies, a large number of questions arise, but there is no common understanding, experts interviewed by Prime explain the situation. "It is the complexity of the development of regulation that is the factor that impedes the development of such legislation both in the Russian Federation and in the world as a whole," said Surana Radnaeva, executive director of the Crypto Commission.

Expectant tactics regarding the regulation of the cryptocurrency market by the Russian government are justified, since a number of countries took a break in this matter - South Korea, Malaysia, India, etc., says Alpari analyst Roman Tkachuk. “The Russian authorities have a desire to recognize cryptocurrencies, but at the same time there is a desire to make this process controlled. Given that one of the principles of blockchain technology is the lack of regulation, it will not be easy to do this,” he said.

TERMS AND DECISION

The Russian authorities do not intend at all to put the case on a long pause or to completely let it go on the brakes - consultations continue, although they take time, experts say. Director of the business incubator REU named after G.V. Plekhanova Ruslan Mammadov believes that the real terms of the first regulation, which will be applicable in practice, will appear no earlier than December 2017.

As Russia strives to become one of the leading countries in the blockchain technology segment, streamlining the cryptocurrency market is very important for it. "When a regulatory framework is developed in our country to legalize the blockchain, regulation of cryptocurrencies will not take long," agrees Radnaeva.

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