Reportedly, Russia’s central bank has strike against cryptocurrency classify regulation as a traditional financial instrument.
Last week, at an event in Sochi, Bank of Russia governor Elvira Nabiullina, says specifically opposes any policy that would deem the technology comparable to foreign currency.
According to Sputnik, Nabiullina said:
“We are categorically opposed to introducing cryptocurrencies in regulation as a monetary asset, an asset used to pay for goods and services, are against equating it with foreign currencies, because … there is foreign currency, there are states that produce it, there are economies and central banks that are behind it”.
Yet another, Bank of Russia, deputy governor Dmitry Skobelkin, also take a hard-line approach when speaking with reports after a meeting with representatives of the Chinese government.
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Notably, the Bank of Russia via overseeing monetary policy which doesn’t regulate domestic financial policy or introduces new laws.
Nevertheless, all three groups sustain to deliberate how good to regulate the emerging technology. The cryptocurrency regulation trading is already expecting this year. Accordingly, it could result in specific definition for cryptocurrencies under state law.