experience Huobi will help to develop regulation of the cryptocurrency in Russia

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experience Huobi will help to develop regulation of the cryptocurrency in Russia

“The cryptocurrency industry is still thriving, almost all the countries on the planet have attempted to develop this area. If Huobi Group will be a good example for the market, it will help to create Russian legislation on the blockchain and crypto-currencies”, — said Sergei Glazyev.

In September, Global Huobi has joined the Center for digital transformation of Vnesheconombank on the basis of the Fund “VEB innovations”. The exchange will provide expert support on issues of trafficking of digital assets and to advise the Russian cryptocurrency investors.

Sergei Glazyev also believes that the blockchain should be implemented in public administration. He suggested that technology will help in the fight against financial fraud and corruption.

Meanwhile, the opposite view was expressed by the special representative of the President of the Russian Federation on issues of digital and technological development, Dmitry Peskov, reports “Business Petersburg FM”.

In his opinion, there are several major barriers to the implementation of technology in the sphere of public administration. One of them is the question of reliability of submitted information in the blockchain. Sands believes that technology in its current form “will not replace the paradigm of existing information systems”.

Earlier, the special representative of the President of the Russian Federation stated that the country is still too early to allow cryptocurrencies because of the threat of MMM 2.0.

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