Feb 27, 2019
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Russian President Vladimir Putin Gives Deadline for better Crypto Regulations

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The Russian government seems to be determined to refine its vision of the crypto-verse, encouraging the creation of better laws that not only promote its use and adoption but also attract investments oriented to develop these technologies.

Russian Kremlin. Courtesy Air France

Two days ago, Ethereum World News reported that the Russian Duma was studying the possibility of adopting a set of regulations to facilitate operations in crypto. This measure may be accompanied by a possible promotion of an oil-backed stablecoin running on the blockchain.

This proposal, presented by Igor Yusufov, Putin’s former Energy Minister, was designed to promote international trade without the frictions and manipulations inherent in traditional fiat transactions.

According to a report by the Russian outlet Rambler, Oleg Nikolaev, a member of the State Duma Committee on Economic Policy commented that he hoped the Duma’s work would be ready by May.

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