Russian Prime Minister: cryptocurrencies can disappear like companies created in the advent of the Web

The Russian Prime Minister has made a statement during the Gaidar Forum 2018 in Russia. As he believes, modern cryptocurrencies can become a thing of the past in the years to come.

He compared the situation around cryptocurrencies today to how companies profited on their simple connection to the Web market during the 1990s, which eventually led to the burst of the dotcom bubble, although he did not specify this. Mr. Medvedev is certain that a scenario is possible when all digital currencies perish, and the blockchain which underlies them becomes a mundane part of our everyday life.

Before talking about this, he quickly described the current sentiment around cryptocurrencies:

“We see that there are different approaches towards cryptocurrencies, for example - from prohibitive to absolutely liberal ones. And everybody is concerned with the question today - where is the limit for this cryptocurrency race? What if, maybe, it’s the dead end of the cyber revolution after all?”

These statements do not necessarily mean the Russian government has decided to forbid cryptocurrencies simply due to the fact they consider them a bubble. The Central Bank talked about the “active supervision” approach before, and this could also be prescribed in the future legislation.