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Medvedev: cryptocurrency must be regulated on the international level

01 February 2018 21:00, UTC

The upcoming G20 summit will see some delegates talking on cryptocurrency, as witnessed from the older reports on Bitnewstoday. Russian Prime Minister Dmitry Medvedev (currently unknown if he remains at his post after the presidential elections in March) is now also outlining the possibility of international-scale digital currency control and arbitrage.

There have to be joint cryptocurrency legislative initiatives within the framework of the Eurasian Economic Community (consists of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Moldova), states the Prime Minister of Russia and its ex-President from 2008 to 2012. “We should synchronize our efforts, it’s absolutely obvious”, concluded Dmitry Medvedev on the forum called Digital Narrative in the Era of Globalization.

Some influential member states of G20 (France, Germany and the United States) have already voiced their intentions to discuss the issue of cryptocurrency regulation at the next forum of this organization. The need for international cooperation confirmed by so much officials likely comes from the fact that cryptocurrency payments are cross-border and have no state fees, which helps to evade taxes and hide tracks for criminal syndicates.