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- Conference agenda
- On the regulation of cryptocurrencies and the legalization of mining
- About blocking Russian users on exchanges
- Can crypto help get around sanctions?
The invited speakers had a lot to discuss, because in recent weeks the main cryptocurrencies, bitcoin and ethereum, have grown by 14.5% and 13.5%, respectively. This is several times higher than the growth of traditional businesses, such as capitalization giants from the S&P 500 stock index, over the same period.
Against this background, statements from Russian politicians at the highest level are increasingly heard about cryptocurrencies as a way to resolve the current economic situation in Russia. Recall that Deputy Prime Minister of the Russian Federation Alexander Novak recently spoke about the need to legalize the production of cryptocurrencies and equate it with entrepreneurial activity. It is obvious that a new stage of development is waiting for the industry in the near future, and therefore a number of issues have arisen that need to be addressed now.
Among the invited speakers of the event were:
- Igor Ananskikh – First Deputy Chairman of the State Duma Committee on Energy
- Dmitry Machikhin – Founder and Gen. Director of Bitnalog. com
- Vladislav Martynov – entrepreneur, head of the Ethereum Russia competence center, founder of BlockGeeks
- Dmitry Marinichev – Internet Ombudsman, representative of the Commissioner under the President of the Russian Federation for the Protection of the Rights of Entrepreneurs in the Internet
- Sergei Khitrov – founder of the Listing Help company and the Blockchain Life forum
Also at the conference, the VIII International Forum on Cryptocurrencies and Mining Blockchain Life was announced, which will bring together more than 5,000 crypto enthusiasts on April 20-21 in Moscow. According to Sergey Khitrov, even despite the current situation in the world, foreign companies will be represented at the forum and foreign speakers will speak, although less than expected.
On the regulation of cryptocurrencies and the legalization of mining
The issues of crypto-regulation and licensing of mining of digital assets were discussed with particular attention. Sergei Khitrovfounder of Listing Help and the Blockchain Life forum, had this to say about it:
“Over the past month, I have seen that Russia is going to follow the path of legalization and most of the parties agree with this. However, the issue of allowing digital assets as a means of payment is not even considered, but the legalization of mining may be in the near future.”
Dmitry MarinichevInternet Ombudsman and representative of the Commissioner under the President of the Russian Federation for the Protection of the Rights of Entrepreneurs in the Internet, in turn noted that cryptocurrencies are not a panacea, but a new, completely different form of money that will structure the state’s economy.
Separately, he spoke about the legalization of mining in the country:
“Mining is an absolutely legal activity in Russia. This is just the work of computers. Nobody forbids math. But Russia needs to control and regulate this sphere.”
Vladislav Martynov, head of the Ethereum Russia Competence Center and founder of BlockGeeks, believes that if the legalization of cryptocurrencies is accelerated in Russia, then the country will have development potential. Since competent regulation will lead to the fact that startups will not go beyond the border.
About blocking Russian users on exchanges
Separately, the issue of sanctions against Russian citizens was discussed, especially on the part of large cryptocurrency services. Sergei Khitrov I don’t think it’s worth worrying too much about it. According to him, the massive blocking of Russian users will lead to a significant outflow of funds and will negatively affect the reputation of exchanges.
Vladislav Martynov in turn, noted that in most cases, the heads of exchanges simply have no choice. Working in certain jurisdictions, they cannot ignore calls for blocking, as they must follow the rules and recommendations. In such a situation, decentralized services seem more attractive.
Can crypto help get around sanctions?
This question has been on the minds of the public for the past few weeks. Some say that digital assets can save the Russian economy from collapse, while other experts are rather skeptical on this issue.
Dmitry Machikhin, founder and CEO Director of Bitnalog. com, shared his opinion on this matter:
“Bypassing sanctions is not a panacea. On the contrary, if we focus on this, then foreign regulators pay closer attention to this and put pressure on exchanges and stablecoins. This is happening, and this is another signal to regulators to work legally, and not to circumvent sanctions.”
Vladislav Martynov said that already now we need to think about building a new financial system. It is already being formed, and the circumvention of sanctions can become a weighty reason for action.
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