Anatoly Aksakov: cryptocurrency is part of the digitalization of the economy

No need to avoid the appearance of cryptorama, said Anatoly Aksakov, head of the Duma Committee on financial markets, during the IX of the Gaidar forum.

«If we are talking about the format, that is encrypted, then why not. I’m sure the issue will be cryptolabs, but it is obvious that the ruble will be tied to vietnamu ruble, it will simply be another form of his work,» he said.

The official admits that the cryptocurrency can become tender.

«Yet with such high volatility it’s impossible. But when digital money is tied to values, they can be used as a means of payment,» explained Aksakov.

The MP also compared the hype around the cryptocurrency with the «Tulip fever». «Bubble it was or not, but then calmed down and the tulips are gone,» he said.

He said that the digital currency challenge for financial authorities, and the Central Bank should be actively involved in their regulation, to subordinate its monetary policy and to make a tool of digitalization of the economy.

In turn, Deputy Finance Minister Alexei Moiseev said that the illegal miners of cryptocurrencies in Russia will be engaged in currency control authorities.

«Bodies of currency control, because the calculations in the Russian Federation are carried out only in national currency. We have the same FNS is the monetary authority, as, indeed, the Bank of Russia, FCS, depending on what it will be,» he said.

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