Anatoly Aksakov: "We will develop the concept of the project on cryptocurrencies within a month"
Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov said that the development of a law on cryptocurrencies control in Russia will be completed in October. He shared this information at a Council on Legislative Digital Economy Support meeting.
According to Mr. Aksakov, the committee discusses the issues of cryptocurrency control together with the Ministry of Finance and the Central Bank of Russia.
"We know that now ordinary citizens are selling real estate in order to buy digital currency. They see that the price of cryptocurrency has grown many times and they want to make money. We are drafting a bill to protect them. It will be ready for October. But it is to be discussed on a large scale before we lay it before the State Duma," Anatoly Aksakov said.
Referring to the blockchain technology, the official said this area does not need legal response.
"We need to develop and invest in this technology. It is necessary to involve new people in order to make it more effective," Anatoly Aksakov believes.