December 29, 2020

“The issue of legislative regulation is crucial, and we have specific proposals for it”: Sergei Khitrov at Blockchain Life 2020

One of the main panel discussions at the Blockchain Life 2020 forum was the discussion of the legislative regulation of cryptocurrencies in Russia. Our CEO Sergei Khitrov took part in it with his speech.

The basis of his report were specific proposals for the future law on the regulation of cryptocurrency in Russia:

1. To launch official state exchanges to legalize cryptocurrency revenues;

2. To authorize official exchange exclusively for the ruble equivalent;

3. To allow the test mode to pay for goods and services in cryptocurrencies on the territory of the Russian Federation;

4. To legalize the crypto-industry as a type of entrepreneurship;

5. To abolish mandatory declaration of revenues.

Several speakers asserted the principal position at this panel discussion at once: on the one hand, to show the state the already formed market and substantial projects, and on the other hand, it should not be prohibited, but to find compromises on legalization issues. Sergei Khitrov also develops this position among his actions as CEO of IDEO, International Digital Economy organization. That focuses on the development of cryptographic industry technology and assistance in the legislative process.

All the ideas were greatly discussed with the community and Anatoly Aksakov, Chair, State Duma Committee on Financial Market. He was also one of the panel discussion speakers, as the authorized person who takes a significant role in developing cryptocurrency laws in Russia.