Dmitry Medvedev, the deputy chairman of Russia’s Security Council, said during a discussion on cryptocurrency regulation that attempts to ban anything often produce the opposite effect. «ТАСС» reports.
He did not directly comment on his view of the future of cryptocurrencies in Russia:
“I currently have a fairly advantageous position in this respect: I believe that the Bank of Russia and the Russian government will deal with this successfully.”
He noted that in the central bank’s view “there are reasons”:
“Although, to be frank, when something is banned, it very often leads to the opposite result.”
As reported, proposed banning the circulation of cryptocurrencies and mining on Russian territory, but such a position is not supported by virtually no agency.
The Finance Ministry has already prepared a concept for regulating cryptocurrencies instead of a ban.
President Vladimir Putin has urged the government and the Bank of Russia to reach a consensus on regulating the industry.
Follow ForkLog’s Bitcoin news on our Telegram — cryptocurrencies, prices and analytics.