Member of state Duma Committee on Finance supports microcredit in cryptocurrency

Chairman, expert Council on non-banking financial organizations, member of the Duma Committee on Finance Yevgeny Shulepov advised rural credit cooperatives to master the technology of the blockchain and cryptocurrency to be a trend.

He stated this at a meeting of the expert Council in response to the proposal of the head of the «National Union of pawnshops» Alexei Lazutin to give micro-credit organizations entitled to issue loans in the cryptocurrency.

«Ask rural credit cooperatives to explore what is on the blockchain, and what trends in this area, to consider how to teach villagers these technologies,» said Shulepov.

«Today you see companies that are beginning to make loans secured by cryptocurrencies. If we will establish and implement mechanisms that will allow you to obtain cryptocurrency loans to credit institutions, this will help to attract the rural development money from abroad, thereby contributing to the development of the Russian economy as a whole,» said Lazutin.

However, the members of the Council underline the need to secure the implementation cryptosytem a bill to regulate cryptocurrency, which is now at the stage of discussion.

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