The Russians Central Bank has no intention of regulating the cryptocurrency money or equating it to foreign currency. The head of the central bank, Elvira Nabiullina, informed a forum that was organised by Russians banks that the central bank is totally against regulating the cryptocurrency money or equating it to foreign currency.
Nabiullina had said earlier that he is against allowing cryptocurrency appearing on the Moscow Stock Exchange. But speaking at the forum, he said that he was categorical to the so-called cryptomania. He said that Cryptomania is dangerous as should gain access to the Russian market. However, they have no intention of regulating cryptocurrencies as mean making payment of goods and services and also have no intention of equating them to foreign currencies.
RIA Novosti said that the central bank understands that there are foreign currency and economies of the states that issue them and the
Russian central bank supports them. However, cryptocurrency is understood differently by the central bank as they are not issued by a specific country and does not depends on the economy of a specific country. Russians continue to propose various ways regulating crypto assets with various prominent governmental agencies giving contrasting views.
At the forum, however, Nabiullina reinstated that the central bank is keen and their position seems to be tougher than that o the Chairman of the banking association, Anatoly Aksakov. Speaking at the event, the chairman said that he is for the idea of legalizing the definition of cryptocurrency and creating a space for the currency to be traded and even introducing a register of miners.
Nabiullina of his speech gave an example of the gold rush that was witnessed earlier and said that situations should be averted. In fact, the government is planning to set cryptocurrency regulation plans by the end of 2017. We are looking forward to seeing how regulation will be ordinary citizens.