In the Eurasian Economic Commission (EEC), we are confident that there are compelling reasons why the EAEU can no longer ignore cryptocurrency digital assets .
Tatiana Valovaya, the head of the Ministry of Integration and Macroeconomics of the Eurasian Economic Commission (EEC), the executive body of the Eurasian Economic Union (EAEU), told a press conference held on January 28 in the Russian capital that we came to the key point of the development of this phenomenon as cryptocurrency, when it becomes obvious: then it will seriously affect the basic parameters of macroeconomics, including such an important point as stability.
On this basis, the EEC decided that the legal regulation of cryptocurrency should not just arise among the participants of the association of the EAEU countries, but it should be unified.
At the press conference, it was said that if different countries have a different understanding of this issue, then there will be “gray holes” that the cryptocurrency business will use, that is, it will begin to engage in legal arbitration, seeking benefits in contrast to legal norms regarding digital assets in different states.
It is curious, but the same thing was recently talked about in another union of countries – in the European Union, in particular, in the European banking management.
Anyway, the idea of the EEC can affect the legislation of at least five countries – permanent participants of the EAEU: Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. At the same time, such changes may also affect the state that is in the status of an observer in the EAEU – Moldova, as well as potential participants of this association of countries.
Syria, Turkey and Iran may become the most likely members of the EEU in the near future – all of these countries are already working on roadmaps to join this union. In addition, Tunisia, Turkmenistan, Uzbekistan, Tajikistan and Mongolia may join the EEU.
Recall that the EAEU became the successor of another association, which existed from 2001 to 2014 – the Eurasian Economic Community (EurAsEC).
Publication date 30.01.2019
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