Russian Ministry: Blockchain Regulations Coming in 2019

The Russian government is continuing its pivot to embrace innovation in financial technologies by planning to legalize and regulate blockchain technology in 2019.

According to TASS, Russia’s largest news agency that is also state-owned, the move toward regulation comes from a program titled ‘Digital Economy of the Russian Federation’, drafted by the Ministry of Communications and Mass Media, also known as Minkomsvyaz. A federal body of the Russian Government, the ministry is responsible for drafing and implementing government policy and legal regulation in information tech.

Obtaining a copy of the draft, TASS reports that a document in the material sees the ministry ‘expecting’ regulations of blockchain technology for adoption by the year 2019.

More specifically, the (roughly translated) document reportedly underlines “the implementation of legal regulation to introduce the use of [blockchain]  technology to ensure the decentralized  maintenance of registers and identities.”

The communications ministry was notably tasked by Russian Prime Minister Dmitry Medvedev in March 2017 to study and research blockchain technology as a part of Russia’s wider ‘digital economy’ program. Public

Read more ... source: CryptoCoinsNews

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