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Russian Parliament members to be walked through the cryptocurrency mining process


According to the several Russian media outlets, the members of the Russian State Duma, the country’s parliament, will meet with miners of 15 various countries and get to know how cryptocurrency is mined. This will give them an opportunity to have a better concept of this phenomenon, assures Deputy Chairman of the Education and Science Committee Boris Chernyshov (member of the LDPR party).

“An event will be held, on which the representatives from both Russia and foreign countries are invited. The main topic is the discussion of what the cryptocurrency world is currently about. Cryptocurrency is either a means of capitalization, of payment and enrichment, or it’s a Ponzi scheme”, cites RIA Novosti his statement.

The uncertainty of position of the Russian officials towards cryptocurrency is, in fact, the best description of the Russian cryptocurrency legislative work during the past year. Even after the Russian President arrived on the scene and told to develop digital currency legislation which is more regulative than prohibitive, some officials continued to call this financial phenomenon a pyramid scheme.

Anyway, the sentiment of the Russian authorities is changing towards more liberal views. For example, Alexey Moiseev, Deputy Finance Minister of the Russian Federation, quite precisely described what backs Bitcoin and how cryptos might fall (see the end of the article). And the recent unexpected decision of the leader of the neighbouring Belarus to endorse the cryptocurrency-friendly legislation might accelerate this process even more.


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