Russian Prime Minister: As Cryptocurrencies Lose Popularity, Regulation Isn’t a Priority
Helen Partz's original article for cointelegraph.com reduced by 52%
Crypto regulation is not a priority for the Russian government since cryptocurrencies have lost their popularity, the Russian prime minister has recently argued. Prime minister Dmitry Medvedev's comments were reported by Russian news agency Fontanka on May 16. According to Medvedev, cryptocurrencies are not that interesting for the population anymore, which decreases the need for the adoption of crypto regulations.
"The popularity of cryptocurrencies has decreased so far, which likely makes the regulation issue not that relevant already." While hype around bitcoin has dropped, there is still an opportunity for crypto markets to rally, the prime minister reportedly concluded. Russia's major crypto bill, "On Digital Financial Assets," was passed by the Russian parliament in May 2018, but was sent back to the first reading stage after reports of its lack of major key concepts such as crypto mining. While the country's parliament has recently again delayed consideration of the bill, Russian president Vladimir Putin ordered the government to adopt regulation for the crypto industry by July 2019.
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