The head of Masuri compared bitcoin with gold

© RIA Novosti / Vladimir Astapkovich in fotobasketball bitcoin. Archival photoThe head of Masuri compared bitcoin with gold© RIA Novosti / Vladimir Astapkovich the image Bank

Cryptocurrency in their functions is more reminiscent of «e-gold», said the head of Moscow exchange Alexander Afanasiev.

Public Council under the Ministry of Finance of the Russian Federation of 28 December, a bill was presented on the regulation of digital assets in Russia. The bill defines cryptocurrency, mining and ICO (initial offering of digital coins). As has explained the Deputy Minister of Finance Alexey Moiseev, the draft law mainly concerns the ICO, and the rules of cryptocurrency circulation will be set later.

«No one really knows what it is (crypto-currency — ed.) to call. It’s derivative, securities, asset, intellectual property? To me it is more reminiscent of e-gold. Gold a century ago were accepted as means of payment — it was a social contract. Now in the social contract on bitcoin involved a small number of people, but this social contract in a sense, the informal has already been signed», — said Afanasiev, speaking at a meeting of the public Council under the Ministry of Finance of the Russian Federation.

«We can gold to not only sell goods and services or receiving a legacy, but «mined» yourself. The analogy is similar,» he added.

In Russia and in the world in recent time has seen a rapid growth of interest in cryptocurrencies, a number of countries have opened their markets for them, but the government are wary of this issue.

Russian President Vladimir Putin instructed the government together with the Central Bank in the first half of 2018 to prepare amendments to the legislation of the Russian Federation regulating the procedure for placement of cryptocurrency by analogy with the regulation of primary placement of securities. The Central Bank said that by the end of 2017 will present the concept of regulatory «sandbox», which will be the temporary regulation of the cryptocurrency.