Volodin urged to use the experience of other countries in the development of cryptocurrency

© RIA Novosti / Vladimir Astapkovich in fotobasketball bitcoin. Archival photo<img src="/wp-content/uploads/sites/5/2017/09/cbf7a8b58093772b5606baf073680533.jpg" alt="Volodin urged to use the experience of other countries in the development of cryptocurrency” />© RIA Novosti / Vladimir Astapkovich the image Bank

Speaker of the state Duma Vyacheslav Volodin, speaking about the development of cryptocurrencies, said that in this matter you need to consider the experience of other countries, and stressed that legislation in this area should protect citizens from possible violations.

Earlier it became known that the state Duma plans to study the market cryptocurrencies: the state Duma is holding a tender for the implementation of expert and analytical studies for regulatory implementation and practical application of modern financial technology. To pay for this work is expected no more than 2.5 million rubles.

«Of course, when we will be discussing today the topic of bloccano, we need to assume that there are already developments in other countries. We need them to see. Have experience the same Japan, India, is the experience of other countries. Clearly, these processes are not bypassed us. It’s kind of, on the one hand, the virtual world. Therefore, we must understand that legislative regulation should, on the one hand, help to develop all these technologies and processes. On the other hand, to protect the citizens from their rights have been violated,» — said Volodin at the enlarged meeting of the Council for legislative support of the development of the digital economy under the Chairman of the state Duma.

According to him, «when we talk about the development of cryptocurrencies, you need to come out of this and to consider the international experience.»

«Our task is to see how the world develops in this plan, what technology is progressing effectively, what we could do, for its part, Russia could be the driver so she could be not only a country that does not adopt technology, but we need first a to (seek) so that these technologies create. And it matters including the establishment of a legal field», — said the MP.

Deputy Finance Minister Alexey Moiseev in August declared that bitcoin should be regulated as a financial asset, and allow its purchase only by qualified investors on the Moscow stock exchange; ordinary citizens it will have to undergo testing and obtain such status. Moses also said that the Finance Ministry hoped that the draft regulation of cryptocurrencies will soon be submitted to the government of the Russian Federation, normative acts for its regulation will be directed in particular to judicial protection of buyers and sellers of cryptocurrency.