Putin’s internet ombudsman is pessimistic about encryption regulation

Although Russian officials Increased interest in cryptocurrencies Like Bitcoin (Bitcoin), Russia’s Internet ombudsman expressed belief that local encryption regulations will remain largely prohibitive.

Dmitry Marinichev, the Russian Ombudsman for Entrepreneur Rights Protection under the leadership of Russian President Vladimir Putin, discussed at a panel discussion at the local large-scale industry event Blockchain Life 2021 on Wednesday Russia’s approach to cryptocurrency regulation.

Marinichev said that Russia will continue to take a restrictive stance on cryptocurrencies because the Russian government does not want Russians to make money with Bitcoin:

“I’m sure that Russia’s cryptocurrency policy is always prohibitive, because no one wants to allow Russians to make money through cryptocurrency businesses, and no one will authorize them to make payments in currencies other than the ruble. It’s important to realize this.”

Marinichev also argued that Russia’s encryption laws, including the country’s first encryption-focused law “digital financial assets” or DFA, have nothing to do with individual investors and are due to the strong strength of large companies and state-backed companies. Adopted on demand.

“The DFA law only targets large companies and has nothing to do with the industry. It does not affect ordinary people and enthusiasts in the cryptocurrency and blockchain industries,” the inspector argued. He also pointed out that Russia’s energy prices are not that attractive to cryptocurrency miners, claiming that the United States has the “cheapest electricity” in the world.

Marinichev was appointed by President Putin as Russia’s Internet Ombudsman as early as 2014. Obviously, this official has been deeply involved in the encryption industry, It is recommended that residents use cryptocurrency 2017 in Crimea. He also plans to transform his metal factory Russian Mining Company into an encrypted mining facility in 2019, which is expected to mine 20% of the world’s Bitcoin.

related: The head of RACIB stated that Russia has “absolutely no” regulation of cryptocurrencies

Marinichev’s comments on Russian encryption regulations came after Russian local governments became more and more interested in encryption, and some ministries proposed to use associated natural gas to mine Bitcoin.At the same time, the Russian government is still skeptical of Bitcoin when it comes to the interests of Russian residents. The Bank of Russia Want to block certain transactions To the cryptocurrency exchange.