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Technological revolution and the way to legalization of cryptocurrencies: Aleksey Muratov spoke on air of TV channel "Russia24"

Along with the sharp expansion of the horizons for the practical application of Blockchain technology, the attention of the society to the industry of crypto-currencies is growing at a fast pace - the new economic segment is interesting not only for states and business representatives, but also for ordinary users who are by default far from the world of investment, currency trading and IT.

Most recently, almost all states have seen a threat in the new technological trend, but today crypto-currencies rightfully come to the status of a reliable, transparent and advanced economic tool. In a number of countries, teams are working on drafting the legalization act on crypto-currencies, on legal norms and work approach for state financial regulators. In the framework of this global trend, Russia is far ahead of others – working groups have already been created on the basis of the State Duma, the Central Bank and the Ministry of Finance, which, by presidential decree, are working on the draft of the Law on digital economy.

International Public Movement "Change the World Together" has always been supporting this undoubtedly positive initiative, making every effort to introduce the cryptocurrency industry into the life of modern man. CWT members always realize the ideas of equality using innovative economic instruments.

CWT leader Mr. Alexei Muratov (who is also the founder of PRIZM crypto currency) often acts as an expert when media representatives discuss such a phenomenon as crypto-currencies. The last time Mr. Alexei Muratov took part in the thematic program on channel "Russia-24", dedicated to the phenomenon of crypto-currencies and blockchain.

"Nowadays Russia should not ban anything. Blockchain and crypto-currencies are a technological revolution. These attempts today to ban it or to ignore it can lead to catastrophic consequences.

But at the same time the fact is that today all existing crypto-currencies (including Bitcoin), even if they originate and position themselves as decentralized projects, while they develop, - become centrist - that is, control of Bitcoin is now accumulated in the hands of major mining pools and, above all, which are located on the territory of China ", - tells Mr. Alexei Muratov.

Our International Movement is promoting the idea of ​​creating a new global financial system. But not based on those crypto-currencies which are popular today - including Bitcoin. But based on the new generation crypto-currencies - which, as they develop, are not becoming centrist, but remain decentralized. That is, this financial system will not have a "master" - say, the United States, China or some other state.


Crypto currencies. The way to legalization in Russian Federation

As in most countries, the industry's road to legalization and official, legal regulation by the state has been very difficult. In some ways, the opinions of the groups working on legislation and official status of crypto-currencies are similar, and in some ways – they are radically different. 

It turned out that the representatives of the Central Bank as usually took a traditionally radical view on cryptocurrencies in Russia. This fact according to a number of analysts, was confirmed by a recently published letter from the Central Bank of the Russian Federation "On the usage of private "virtual currencies". 

Yes, the Central Bank is still in sharp contrast with the position of colleagues from other departments - they are more rigid in formulations and less open to the new industry. However, not everything is so bad: even if we compare the position of the Central Bank in 2014 and in 2017, we already can see positive changes. If the punitive character at the level of criminal prosecution was previously clearly stated, then in the letter of 2017 another position was expressed by the Central Bank. 

One of the main messages of the new appeal: the Bank of Russia monitors the crypto-currency market and develops approaches to the definition and regulation of crypto-currencies in the Russian Federation (when in 2014 the following wordings were observed: "The usage of crypto-currencies is the potential involvement in illegal activities, including legalization (laundering) of incomes from crime and financing of terrorism ". 

Despite the reduction of the pressure by regulators, representatives of state bodies recommend taking a responsible approach while investing and, until the legislation on the turnover of the crypto currencies has been developed, all the financial risks are should be taken by every person on his own.

  • September 25, 2017 11:56 PM MSK