Russian PM: cryptocurrencies are hard to ignore

Russian Prime Minister Dmitry Medvedev has made a new statement about digital currencies on the recent economic forum in St Petersburg. Aside from his direct acknowledgement that the “triad of usual methods” - mandate, permission and prohibition - does not work in the digital sphere without creating additional financial losses, he has told that cryptocurrencies would get the humanity to the new stage of financial technologies development.

The Prime Minister (recently appointed on this post again by newly-elected President Vladimir Putin) has also reminded about the law on digital money and digital rights, indicating that this version is still relevant, while also stressing that these legal terms were much better than “cryptocurrency” and “token”.

Dmitry Medvedev is one of the world’s high-ranking officials who openly endorsed the international regulation of digital currencies when the Finance Minister of France has informally launched the process of discussion on this issue prior to the G20 summit. As a leader of the Russian parliament and simultaneously chairman of the ruling United Russia party, he can count on the support of the vast majority of officials from this governmental body.