The Russian government will regulate the cryptocurrency with the FATF

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The authorities plan to control the blockchain industry, with the support of intergovernmental organization to combat money laundering

Special representative of Russian President for digital development, Dmitry Peskov, the TV channel “Russia 24” told about the plans to regulate cryptocurrency market. The government plans to control the new industry jointly with the intergovernmental organization to combat money laundering (FATF).

The expert explained the decision of the high risks in this environment, for example, the emergence of new financial pyramids. Peskov recalled that the cryptocurrency was designed to exist outside government control, so it is surprising why the Bank of Russia claim that the Agency does not regulate digital money.

According to the representative of the President, ecosystem evolyutsioniruet faster than developed laws, so now to create some kind of comprehensive legal framework will not work. Probably now need to organize some separate area of law on this issue, as well as a hundred years ago people created anti-monopoly regulation.

Earlier, the FATF announced that he was preparing standards for intergovernmental organizations in combating money laundering. The organization plans to present them in October-December. In September, the Deputy Director of Reinforeing Pavel Livadny said that the Russian government will use these measures to control stock market.

More news on cryptocurrency can be found in our telegram channel RBC-Crypto.

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