Cryptocurrency Regulation ‘Not That Relevant’ Says Russian Prime Minister

Europe Regulations Russia

A decline in the popularity of cryptocurrencies means that their regulation is no longer a priority for the government, says Prime Minister Dmitry Medvedev.

The Prime Minister’s comments were reported by Russian news agency Fontanka on May 16.

“The popularity of cryptocurrencies has decreased so far, which likely makes the regulation issue not that relevant already,” Medvedev was quoted as saying.

Speaking at an annual international judicial forum on May 15, Medvedev said that the issue was widely discussed at a forum in May last year when he urged the government to legislate some basic crypto terms.

A crypto regulation bill titled “On Digital Financial Assets” was passed by the Russian parliament in May 2018, but was sent back to the first reading stage, following claims that it had ignored major aspects of the industry such as crypto mining.

The Russian parliament recently delayed consideration of the bill again, despite Russian president Vladimir Putin ordering the government to adopt crypto regulations by July 2019.

Back in 2018, Putin had made a similar order to provide regulations by summer 2018.

About the author

Mark Knowles

Mark Knowles

Coinlaw Multi-Jurisdiction Blockchain News
Mark Knowles is the Executive Editor of coinlaw.io
With more than a decade of experience as a journalist and editor, Mark has now turned his focus to the blockchain and cryptocurrency revolution that is currently reshaping the global economy. As Executive Editor at Coinlaw Mark is working to create a website that is a hub for the international crypto community to find the latest legal news, legislative changes and expert opinion from across the industry. Contact him at [email protected] or through mobile on +66 (0) 98 705 2716.

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