Elina Sidorenko: in Russia, you need education on cryptocurrencies

In recent years, increasingly pronounce the word «cryptocurrency» and, despite the fact that about 40% of Russia’s population know what it is, they have only fragmentary information and only in the context of a positive perception, said the head of the working group of the state Duma on the risk assessment of turnover cryptocurrency Elina Sidorenko.

«People hear about what people have invested money and received 30 thousand per cent profit. The result is a desire to give to the latter. In the summer of 2017 was a serious jump of the prices for cryptocurrencies, especially bitcoins. And in Moscow, was a fixed fact – the people removed their savings, on average, this amount was approximately $30 thousand, and bought them for bitcoin: buy bitcoins in the major illegal exchange was planned for two months ahead,» she said.

According to Sidorenko, cryptocurrency is a high risk tool, which does not guarantee any growth because it is outside the legal field and has high volatility.

«We observed a bias: some Federal TV channels say that cryptocurrency is a very interesting new profitable business, and others – that it is categorically impossible to invest money in them because it is a financial pyramid. As a result, people feel a definite urge: «I want to stop because it is a very beneficial process and I have to participate in it». So, on the contrary, in this embodiment, the criticism of the ICO and cryptocurrency leads to the fact that people here are starting to run, she said. – It is advisable to deal with not only technology education, but legal and financial».

That high-profile cases of fraud selling bitcoin no Sidorenko explained by the absence in Russia the legal status of the cryptocurrency.

«Not yet determined what it is – money, goods or other property, there will always be a problem with the qualification of these actions. Fraud involves the theft of another’s property. Because now the article 128 of the civil code does not define the status of crypto-currencies, is simply not obtained the status of theft of property – it is not as such. The Russian legal model is focused on the property, which the man had withdrawn. And in this situation we can not prove this property, and the result is itself a fraud,» – said Sidorenko, expressing concern the collapse of the ICO.

According to her, a cryptocurrency is a code whose value is determined only by information about it: the price will depend on what information the media will bring us tomorrow.

«However, the term emission cryptocurrencies will come to an end. Then, as its value is increasing along with the popularity of its production, it could collapse because at this point it becomes uninteresting. But it can happen the opposite: the attitude towards cryptocurrency will be the same as rare metals. It will be a closed environment that some time will be evaluated according to the principle of gold bars. Just because its emissions at that time will be over or coming to an end,» – said Sidorenko.

She admits that it would now be a good investment, if you are sure that everything will happen exactly.

«If you look at the events of the past few years and the dynamics of cryptocurrencies, we will see that any positive news about the regulatory mechanisms of cryptocurrency in any country reacted with growth of at least 20%,» – she said and cited the example of how the value of bitcoin reflects the announcement of China banning ICO.

However, according to Sidorenko, this announcement is distracting step and after some time China will announce a new qualitative breakthrough in the field of this technology and put it under state control (analogiczne exchange cryptocurrency circulation). Speaking of cryptomeria, Sidorenko emphasized the inability to control the course of trading because of the lack of a public law regulatory mechanisms.

«We can’t talk about the possibility of legitimate intervention in the course of trading, the more they stay. Decentralization implies that each miner produces some essence, which it finds currency. And everyone feels superbroker, which can be traded on the stock exchange, to raise or lower. And there is no country, no organization, which would take the liberty to monitor this process. Moreover, it is now impossible to control,» she said.

Statement by Deputy Finance Minister Alexei Moiseyev on admission to the sale and purchase of bitcoins on the Moscow exchange, only qualified investors Sidorenko called misunderstood.

«The media MIS-heard Moses. The Finance Ministry is now considering the idea of transformation, of shifting the situation that exists with foreign currency on the cryptocurrency. Basic trades in foreign currency held among professional players through the exchanges, having the most powerful documentation and professional participants brokers. On the exchange you are trading, it sets the rate at which we exchange can buy this currency. Maybe it’s the same idea and tried to bring Moses in his speech.

By itself, it can be very reasonable: we can open the market for legal cryptocurrencies and weed out those threads that fall under the existing restrictions of AML/CFT (anti-money laundering and financing of terrorism). Also, we may not build new infrastructure, and to try as the site to use an existing, well-proven,» explained Sidorenko.

She approves of this idea and emphasizes that the owners of cryptocurrency do not suffer because will continue the sale on the exchange sites only will have access to the real exchange, which will trade is already purified from the risks of the cryptocurrency.

Sidorenko also understands that regulatorika should not stifle Bitcoin because the technology can be developed when it gives participants a certain ease, even when the defined borders.

«Must be the input and output of the cryptocurrency. If you define the rules of the entry corridor into the crypt via Fiat through the tax regulations, the law on stock markets and on the national payment system, issues you will not. If we now put a fairly high tax, people will go into the informal segment, because for them the priority is profit. If the benefit is less than the burden, of course, you’re out of this space go. Legal regulatorika should be soft, flexible and focused on the fact that Russia has become one of the leading countries in kriptonyte, not the country, which will be perceived as the iron curtain for the development of new technologies,» – said Sidorenko.

Head of the working group of the state Duma on the risk assessment of turnover cryptocurrency does not deny that the bitcoin used by criminals – but only in a limited segment of the offenses.

«The claim that the cryptocurrency is often used by criminals to Finance terrorism – delusion. The most common foreign currency for these purposes has been and remains dollar cash. With regard to weapons – same story. Cryptocurrency is used in other crimes – the development of «shadow Internet» could not lead to popularity in this cryptocurrency. Although with the advent of regulatory rudiments many criminals began to abandon the cryptocurrency. The use of cryptocurrency to pay for drugs, accounts on porn sites, for extortion proceeds of crime, cyber attacks – with the exception of the sale of drugs, «the crypt» has a very indirect relationship. Assassinations, terrorism, selling weapons, robbery, theft, criminal community that we were the crypt not see, only cash» she said.

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