Boris Titov did not approve the draft law of the Ministry of Finance on the regulation of cryptocurrencies

Authorized under the Russian President for human entrepreneurs Boris Titov criticized the bill of the Ministry of Finance «On digital of financial assets», calling the concept of the regulation of cryptocurrencies is too cruel.

«What our Finance Ministry, is a much more stringent regulation than in Japan, Switzerland, Belarus, Armenia. That is, all countries which have adopted some legislation. Nothing better to take than to adopt such legislation. It’s just to make cryptologist and the blockchain-business never considered Russia as their homeland. Therefore, we are of course opposed to this text. I understand why they are trying to put such barriers. Because the blockchain, in fact, is a technology that allows you to control officials. Today we have the opposite – officials believe its most important function is the control of people, entrepreneurs, those involved in bacchanal and new technologies. And everything should be Vice versa. The blockchain allows people, businesses, the technological community to control bureaucrats. And they certainly don’t like it,» – said Titov.

According to the concept of the Ministry of Finance, the volume of purchases of tokens for individuals will be limited to the amount of 50 thousand rubles, and their secondary treatment is prohibited.

Self-concept Titov does not allow cryptocurrency to transactions of purchase and sale, payment of works and services, and other transactions under the civil code, but allows you to exchange them for rubles and foreign currency.

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