Russia will regulate the cryptocurrency in conjunction with the FATF

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The Russian authorities plan to control the cryptocurrency market and industry of the blockchain, with the support of intergovernmental organization to combat money laundering (FATF). This was announced by the special representative of Russian President for digital development, Dmitry Peskov, the TV channel “Russia 24”.

“The government plans to control the new industry jointly with the intergovernmental organization to combat money laundering (FATF). This decision is connected with high risks in this environment, for example, with the advent of new financial pyramids”, – he said.

This Peskov stressed that the Bank of Russia, and the Central banks of other countries, no control over cryptocurrencies since they are based on decentralized technology. He was surprised why the Bank of Russia claim that the fiscal authority does not regulate digital money.

“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,” – said the representative of the President.

Earlier, the FATF announced the completion of a set of standard rules for anti-money laundering (AML) using the cryptocurrency, which will be presented in October. In September, the Deputy Director of the Federal financial monitoring service Pavel Livadny told that the government will use these standards of regulation to control the cryptocurrency market.

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