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Open government of the Russian Federation: cryptocurrencies should be recognized as a financial instrument

The Russian government is unlikely to follow the path of banning cryptocurrencies and will soon regulate their turnover in the country. This statement was made by the Minister of open government Mikhail Abyzov, RIA Novosti writes.

"The cryptocurrency factor cannot be ignored and banned in the near future. The discussion on this issue is already underway, both in the government and in the economic bloc and the Central Bank. I am sure that the decision will be made soon, " he said.
According to Abyzov, the authorities understand that cryptocurrencies should be officially recognized as a financial instrument and carefully regulated so that excessive pressure does not destroy the technology itself.

The Minister also recalled the high potential of the Russian technology sector and assured that the government understands the need to support and develop new financial technologies.

"We have good mathematics, we have good information technology. I would like to believe that on the basis of the intellectual reserve that we have, we could create products similar to cryptocurrency. This is a great talent and great ability to create and promote such products," the official said.
Recall, in July, the Central Bank of Russia said that regulation in the field of financial information technology will be a priority for the regulator for the next five years.