Russia is considering the introduction of legal restrictions on crypto: report
Russia is considering the introduction of legal restrictions on crypto: report
The State Duma - the lower house of the Federal Assembly of Russia - believes that cryptocurrencies can be a highly dangerous financial instrument for private investors. Therefore, the authorities intend to introduce a regulatory framework for trading with them, according to a recently published report.
Does Russia have to regulate cryptocurrencies?
according to local coverage confirmed the Russian government to deal with digital currencies. Anatoly Aksakov-Chairman of the Duma Committee for the financial market-said that the investment class could bring considerable profits to investors. At the same time, however, it can also be highly dangerous, which is why the legislature should set up concrete rules:
"Digital assets are the topic of our attention, and here we will see how we can protect our citizens in the maximum of investments in digital currencies and digital assets, because there is a new tool that is quite difficult for an unskilled investor.
We definitely have to issue specific laws in order to protect a non -professional investor from rash investments in digital currencies. ”
On the other hand, Alexander Abramov-a top manager of the Institute for Applied Economic Research-opposed the possible step. According to him, digital assets have had a positive impact on the western markets in recent years because they are an attractive investment tool for people. Private cryptocurrencies also successfully compete with centralized state money projects, he concluded.
not too long ago, Anatoly Gavrilenko, the founder of the investment banking company Alor Group, said that Bitcoin and the old coins of freedom are similar. Even if authorities prohibit them, society will always find a way to deal with it:
"Cryptocurrency is a certain symbol of freedom, financial freedom, it is a signal to all regulatory authorities that it is not necessary to push people into the corner. People will always come up with something to force them to avoid bans."
Russia's crypto environment
It is worth noting that the central bank and the government of the largest country have a negative opinion on digital currencies.
For example Elvira Nabiulllina-the head of the Russian central bank- called June that the investment in such assets is more dangerous than any other strategy. She further warned people that they could lose colossal sums:
"Speculative crypto-assets are certainly the most dangerous strategies of all. The central bank never gives advice where you should invest, but in this special case-here [one] should definitely not [invest]."
Sergey Shvetsov-member of the Bank of Russia Board of Directors-also sounded a similar note. He argued that dealing with Bitcoin is so risky that it can be compared to entering a mine field.
However, this is not the opinion of most Russian investors. According to a current
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