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Russia Minister “promotes a thoughtful approach to cryptocurrencies regulation”

Russia Minister “promotes a thoughtful approach to cryptocurrencies regulation”. He is speaking out against the idea cryptocurrencies should be banned.

In the interview, Mikhail Abyzov stated:

“It is necessary to move from a policy of denial and prohibition to a very accurate, thoughtful state regulation of the turnover of crypto-currencies. I think we should officially recognize them as a financial tool and properly handle it carefully so that excessive pressure does not destroy the technology itself. I think that the Russian technology sector has such a potential. It will be implemented in the format of creating a cryptor, or other new technologies of the financial or non-financial sector – it is difficult to predict. But it is necessary to support and develop such initiatives”

Last week, Anton Siluanov, Russia’s finance minister, said that there is “no point” in prohibiting cryptocurrencies in the country.

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