The Finance Ministry commented on the situation with cryptocurrencies

© RIA Novosti / Vladimir Astapkovich in photobacteria coin cryptocurrency bitcoin Bitcoin MaRSe Center in Moscow. Archival photoThe Finance Ministry commented on the situation with cryptocurrencies© RIA Novosti / Vladimir Astapkovich the image Bank

The Russian authorities have decided not to impose regulation of cryptocurrencies, and will focus on the legalization of the technology of blockchain, told RIA Novosti Deputy head of the Ministry of Finance of Russia Alexey Moiseev.

«The departments are closer. The decision was made in connection with this (first Deputy Prime Minister of RF Igor — ed.) Shuvalov yet to watch (the situation with cryptocurrencies — ed.) and while we do legalization rather blockchain from the point of view as a mechanism of registration data so that the information stored in the blockchain, have the same legal effect as the information stored (now in other forms — ed.)», — said Moiseev.

According to him, the decision was taken at a meeting of the financial stability Board, which was held last Monday in the government of the Russian Federation.

«I think the next Council will through the quarter, we will have to submit proposals on regulation of the blockchain is that there is no doubt in part it is technology, data distribution, assigning it the status of legally significant information is very important. We have to report at the next meeting of the financial stability Board’s proposals and, maybe, back to the topic of regulation of bitcoins, and maybe not,» he said.

«As for bitcoin, now it was decided to do nothing, decided to see. Next week will be a regular meeting of the international financial stability Board, maybe there are some ideas to offer, but in a situation when the experience of international regulation varies from «allow the circulation (bitcoin — ed.) along with the national currency», as in Sweden, to the complete ban in other countries, of course, to speak of a single international trend (not necessary — ed.)», — said the official.

«So I am encouraged to see this discussion, which will be in Berlin on 6 October, and maybe then we will become cleverer and something, but while I don’t want to make mistakes in the beginning, I decided to look around and think about how to do better,» added Moses. «My personal position, I stand by it (about the possibility of selling crypto currency on the Moscow stock exchange — ed.), but she received no support» — he concluded.