The lawyer told about the terrible future of Russia without cryptocurrency

The Russian Minister of Justice Alexander Konovalov said on May 18 that Bitcoin, Ethereum and other cryptocurrencies fall under the legal concept of “other property” and can not be regarded as electronic money. Anastasiya Ragulina, director of research at the legal group “Yakovlev & Partners”, told to the correspondent of “360” about Russia’s future with this approach to digital economy.

She noted that the department for a long time discussed the legalization of the cryptocurrency. In August 2017, the Ministry of Justice did not call them “financial pyramids.” Konovalov proposed to classify it as an asset, which would allow buying and selling it on the stock exchange only to qualified investors.

In the opinion of Anastasia Ragulina, if it is impossible to conduct any operations with cryptocurrencies, the Russian digital economy and market will not develop and the country will continue to lag behind in this area.

“Now there is no direct ban on the operation. In any case, you need to define the essence of the cryptocurrency. If we say that this is another property, then its turnover becomes analogous to the turnover of money. The question is what kind of policy the Ministry of Justice will choose, but now they can be used as money” – the lawyer said.

coinsRogulina believes that the Ministry of Justice should legalize cryptocurrencies, since bans can affect the economic future of the country. “We will not have smart contracts, nothing will work. What will we pay? “- Anastasia Vacheslavovna perplexed. Source:

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