[2018-02-03] Russia Urges 4 Other Countries to Develop Common Approach to Crypto

[Terraformer]

The Russian Prime Minister Dmitry Medvedev has asked the leaders of the Eurasian Economic Union countries to jointly develop a common approach to cryptocurrencies. Both the Russian central bank and the prime minister believe that cryptocurrencies should not be restricted to one nation’s framework.

A Common Approach to Cryptocurrencies

Russia’s prime minister Dmitry Medvedev urged the countries of the Eurasian Economic Union (EAEU) to develop a common approach to cryptocurrencies, Tass reported. At “The Digital Agenda in the Era of Globalization” forum on Friday, he expressed the necessity of bringing together “approaches to cryptocurrencies within the framework of the EAEU.”

The EAEU has five member countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. Other than Medvedev, the meeting was attended by Prime Minister of Armenia Karen V. Karapetyan, Prime Minister of Belarus Andrei Vladimirovich Kobyakov, Prime Minister of Kazakhstan Bakytzhan Abdirovich Sagintayev, Prime Minister of Kyrgyzstan Sapar Dzhumakadirovich Isakov, and Chairman of the Board of the Eurasian Economic Commission Tigran S. Sargsyan.

Regarding cryptocurrencies, Medvedev told the other EAEU leaders:

- We should not be locked into the framework of the national model…It is impossible to implement these principles within one country; we need to bring our approaches closer to the level of the Union…Otherwise, all this will be under a completely different angle to develop and will not look completely understandable and legitimate./

Citing that some of his peers said that “it would be possible to pay with cryptocurrencies,” Medvedev was quoted saying, “Let’s take a closer look because our economies are too tightly and closely related.” The prime minister also suggested preparing international conventions of cryptocurrencies, stressing the need to “synchronize efforts in this area with the EAEU countries.”

Continue reading >> https://news.bitcoin.com/russia-urges-countries-develop-common-approach-cryptocurrencies/

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[Harlot]

It is actually good that the Russian government is striving for other countries to follow on a certain rules and regulation for Bitcoin. If done properly it will be a positive result for Bitcoin as it has now a legal backing from a developed country.  Now the only thing left to do is for these countries to have meetings about the topic as I currently don't see any news about United Nations having to agree on a certain approach for Bitcoin. This is really a great news I mean it will be more than one country who will follow the rule, it might create a ripple effect.

[gentlemand]

It seems sensible. No one country can do much. It's a global thing. However Belarus are already going down their own path and it's a pretty radical one compared to what other countries would want to do. I wonder whether they'll reel it in to keep Russia happy.

[laurenB7742]

It seems sensible. No one country can do much. It's a global thing. However Belarus are already going down their own path and it's a pretty radical one compared to what other countries would want to do. I wonder whether they'll reel it in to keep Russia happy.

What plans does the Republic of Belarus have? Aren't they a semi-communist country? This would surprise me if they are in favor of cryptocurrencies and mild regulation.

[gentlemand]

What plans does the Republic of Belarus have? Aren't they a semi-communist country? This would surprise me if they are in favor of cryptocurrencies and mild regulation.

They've gone full crypto friendly and declared it tax free. https://www.rt.com/business/414195-bitcoin-mining-belarus-cryptocurrency/

That's certainly not anything like Russia's approach so far. Russian threats have become exceedingly tedious. Belarus actually did something. Russia may not like it.