National cryptocurrency may appear in Russia

UFA, 27 May 2016. /Bashinform News Agency, Galina Bakhshieva/. Rosfinmonitoring is holding consultations with the Ministry of Finance, the Central Bank and banks on the introduction of a national cryptocurrency, or virtual currency. This is reported by the "Kommersant" newspaper with reference to the Official Secretary, the Deputy Director of the Federal Financial Monitoring Service Pavel Livadny.

"We consider the following basic principles. The Russian regulated cryptocurrency should not be emission-free - it shall have its issuer with the rights and duties. They may be "financial institutions, which will be entrusted with the emission of cryptocurrency". Most likely this activity will be licensed, Rosfinmonitoring suggests", writes" Kommersant ".

Citizens and companies will be able to exchange rubles or other currency to cryptocurrency at special regulated electronic platforms. In this case a person acquiring cryptocurrency will necessarily be identified in order to minimize anonymous transfers.

It is planned that at the same time with the introduction of the domestic regulated cryptocurrency a circulation of other cryptocurrency will be banned in the territory of our country.

At the moment, the most globally popular cryptocurrency is Bitcoin launched in January 2009. Bitcoin is "virtual money" – a program online code, which is not regulated by the government or the banking supervisory authorities.

According to TASS, Russia was the fifth in the world in February in number of Bitcoin and other cryptocurrency users.