According to the Russian Prime Minister, digital assets should be regulated by international conventions. Dmitry Medvedev spoke against too tight regulation of the digital sphere – including cryptocurrency and blockchain.
According to Medvedev, relations in the digital sphere should be regulated reasonably and without excessive administrative pressure. This opinion was expressed by the Prime Minister in the framework of the Digital Agenda in the Epoch of Globalization 2.0 Innovation Ecosystem of Eurasia forum, TASS news agency reported .
Medvedev said that now we need to work out the issues of legal definition of key concepts in the cryptosphere, including blockchain technology .
He noted :
As soon as we immerse something in the regulatory framework, we thereby make this phenomenon oblique. Therefore, we should not “lock up” creativity with excessive regulation.
The head of government spoke not so much for the internal as for the international regulation of relations in the cryptosphere.
In previous centuries, states developed a host of treaties and conventions that protect copyright. However, in connection with the mass distribution of digital technologies, copyright also gradually goes down in history, the head of the cabinet said.
It is worth noting that in the parliament earlier they expressed dissatisfaction with the fact that the adoption of a package of bills on digitization of the economy is being delayed.
The speaker of the Federation Council, Valentina Matvienko, demanded that the State Duma speed up work in this direction , since the absence of a regulatory framework creates conditions for the shadow activity of blockchain companies. Also, the lack of a legal framework for cryptocurrency transactions and mining in Russia leads to the flight of bona fide players to other jurisdictions.
Publication date 02.02.2019
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