The Ministry of Finance of Russia: Cryptocurrency regulation will ensure transparency and investor protection – Bits Media

Director of the Financial Policy Department of the Russian Ministry of Finance Ivan Chebeskov proposed not to ban, and regulate cryptocurrencies.

During his speech at the session “Crypto Industry: Trends, technologies, regulation" as part of the RBC conference Crypto" Ivan Chebeskov reported, which does not support the decision of the Bank of Russia to completely ban transactions with digital assets on the territory of the Russian Federation.

“Here we need to give these technologies the opportunity to develop (mining, etc.). In this regard, the Ministry of Finance is actively involved in the development of legislative initiatives in terms of regulation of this market. AND, in its turn, we have a prepared regulation concept, which we are discussing within the Ministry of Finance and have now sent to the government apparatus", – Chebeskov explained.

He also called on the government not to ban cryptocurrencies, and protect the rights of investors, investing money in digital assets. According to him, it is equally important to defend the interests of users of any innovation. Chebeskov emphasized, that taking care of citizens is impossible without transparent regulation of cryptocurrencies.

Representatives of various government agencies in Russia express opposite opinions about the prospects for a ban on cryptocurrencies. At the same time, most departments advocate regulation with varying degrees of restrictions.

State Duma deputies, supporting regulation of cryptocurrencies, noted, that only the Central Bank insists on the ban. Recently, Vladimir Putin called on the Bank of Russia and government officials, pro-regulation, come to an agreement. At the same time, he emphasized, that Russia has a competitive advantage in cryptocurrency mining.

Recall, that previously the head of the Ministry of Digital Development, communications and mass communications of Tatarstan Airat Khairullin proposed opening a special economic zone in Kazan, where they will mine cryptocurrencies under state control.