According to Russian Economic Development Minister Maksim Oreshkin, the global development of cryptocurrencies resembles a pyramid scheme.
Russia’s Bitcoin Advocate Says There Is No Sense to Adopt Cryptocurrency Legislation that Would Hinder Businesses
This spring an interdepartmental working group on cryptocurrencies in Russia has started working on a bill that would legalize cryptocurrencies in the country. There are numerous rumors and talks concerning this paper, however, nobody actually has any reliable and systematic information in this regard.
The word ‘mining’ has become mesmerizing for many cryptocurrency enthusiasts and those who had never heard a thing about bitcoin, Ethereum, and other altcoins. Media report that graphics cards are short on supply, while companies selling professional mining equipment can’t handle the flood of orders.
Pavel Kravchenko, Distributed Lab Co-Founder Says 99% of Startups Don’t Make a Working Product after ICO
Pavel Kravchenko, co-founder of blockchain company Distributed Lab, is known for his hard-hitting statements on processes within the cryptoindustry. Recently he wrote a Facebook post sharing his views about what’s happening to cryptocurrencies and ICO market in layman’s terms.
Cryptoindustry is on the march, which is hardly a secret for anyone now. Still, many officials as well as community members can’t imagine what will it be like in a couple of years, not to mention in a decade or two. For that reason ForkLog contacted renowned composer, well-known visionary.
Russia’s deputy minister of finance Alexei Moiseev has stated that users who conduct cryptocurrency transactions have to be identified. According to RNS, the official also believes that cryptocurrencies could be classified as “other property” as described in the country’s civil code.
According to Alla Bakina, the head of the Central Bank’s department of national payments system, the regulator is working on applying financial technologies to create a national cryptocurrency and regulate other cryptocurrencies and exchange platforms.
According to Sergei Shvetsov, the first deputy chairman of the Bank of Russia, a local Russian exchange may start cryptocurrency trading.