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  Russian Central Bank proposes restrictive tone to cryptanages | Bit Updates
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Russian Central Bank proposes restrictive tone to cryptanages

Tuesday, September 19th, 2017 | bitcoin updates

According to reports, the head of the Russian central bank has spoken out against a regulation that would classify cryptic as a traditional financial instrument.

There were comments that came up last week at an event in Sochi. The Governor of the Bank of Russia Elvira Nabiullina, who previously worked as an economic consultant for President Vladimir Putin, said she explicitly opposed any policy that equates technology with foreign currencies. The same applies to the comparison with payment instruments or monetary assets.
Nabiullina says:
"We are categorically opposed to the introduction of a regulation that equips cryptanages with a monetary asset that can be used to pay goods and services. A comparison with foreign currencies should not take place for the following reasons: There are foreign currencies and there are states that produce them. Behind them are economies and central banks, which is not the case with cryptic investigations. "
Another official, Deputy Governor of Russia's bank Dmitry Skobelkin also expressed an uncompromising approach to talking to reporters at the same time. Previously, there was a meeting with representatives of the Chinese government.
"China does not recognize cryptic currency as a means of payment and has forbidden ICOs. Our views can be compared. From our point of view, it is a kind of financial pyramid that can collapse at any moment. "
It is, however, important to bear in mind that the Bank of Russia oversees monetary policy, but does not regulate domestic financial policy (a task undertaken by the Ministry of Finance) or introduces new legislation (a responsibility of the Russian Parliament).
Nevertheless, the comments come at a time when all three groups are thinking about how best to regulate the emerging technology. Already, the regulation of the trade of cryptic diseases is expected this year. This could lead to a kind of specific definition for cryptic practices under state law. A high-ranking official of the State Duma, the national legislation of Russia, has recently predicted that a suitable proposal will be drawn up by the end of the autumn.

About Alina LeyView all posts by Alina Ley

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