Russian Minister: Encrypted currency “can not be ignored”


nnnRecently, another Russian government ministerial officials vowed to oppose the ban on encrypted currency, and that the technology “can not be ignored.” Mikhail Abyzov, Minister of Government of Open Government, said in an interview with the Russian news media (RIA) that regulators need to be thoughtful and unobtrusive and prohibited to properly handle the application of the technology in order to avoid Excessive stress destroys the development of technology itself. Last week, the Russian Finance Minister also said that in Russia to prohibit the encrypted currency is “meaningless.”n
nnTranslation: Clovern
nA minister inside the Russian government vowed to oppose the proposal to ban the currency, and that the technology “can not be ignored.”n
nMikhail Abyzov was appointed Minister of Government of Open Government in 2012 and this week he made the comments in an interview with the Russian news media, the Russian International News Agency (RIA). However, during the interview, he said he thought “making a decision as soon as possible” was important – if necessary because of the development of technology.n
nIn an interview, he went on to deal with the regulation to be “thoughtful”, pointing out:n
nn”We must move from conflict and prohibition policy attitude to accurate and thoughtful supervision of encrypted money turnover.I think we should formally recognize their status as a financial instrument and properly handle it so as not to exert excessive pressure on it to destroy the technology itself development of.”n
nnAbyzov, who previously served as head of E4, Russia’s largest engineering company, continued to say that development activities related to the technology should be supported, whether it involves the development of encrypted money or the development of other applications in block chains.n
nHe said to the media:n
nn”I think the Russian technology sector has such a potential that this technology will be developed in the form of encryption or other new technologies in the financial or nonfinancial sector – it is difficult to predict how it is specific, but it must be supported and developed Such initiatives. “n
nnIn general, Abyzov is a recent senior official of the Russian government who publicly supports the creation of a more relaxed environment for encrypted currency trading activities. Last week, Russian Finance Minister Anton Siluanov also said it would be “meaningless” to prohibit the encrypted currency in Russia.n
nEditor’s Note: Some of the ideas in this article are translated into English by Russian and translated into Chinese by English.n

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