No developed country bans cryptocurrencies. Reason: such a ban will inevitably slow down the development of blockchain technologies in general. These technologies improve the efficiency and safety of many human activities, from finance to art.
Solutions based on distributed registries, using cryptocurrencies as units of account, are replacing the obsolete centralized financial systems of the second half of the 20th century.
Russia’s neighbors, from Ukraine to Uzbekistan, are following the lead of developed countries in adopting progressive laws in the field of blockchain. These states do not want to remain on the sidelines of technological and economic progress.
Russia today is one of the leaders in the number of highly qualified specialists in the blockchain industry. Thoughtful regulation will allow the country to balance the distribution of forces in the international financial system and become one of the major players in the new economy.
The desire to regulate the circulation of cryptocurrencies is natural on the part of any financial authority. However, by recommending a total ban on cryptocurrencies, the Central Bank of the Russian Federation proposes to throw out the baby with the bathwater. Such a ban is unlikely to stop unscrupulous players, but will put an end to legal Russian projects in this area.
“ВЧК ОГПУ”
