Deputy Aksakov compared interest in cryptocurrencies to gambling addiction

According to the official, the market for digital assets and mining should be legalized under strict regulation

01.07.2022 - 17:05

1 min

What’s new? During a speech at the St. Petersburg International Legal Forum, Anatoly Aksakov, Chairman of the Committee on Financial Markets of the State Duma, compared interest in cryptocurrencies to gaming addiction. He also said that the digital asset market and cryptocurrency mining should be legalized if strictly regulated.

The RBC article

What else did Aksakov say? The deputy noted the need for mandatory identification and verification of the qualifications of market participants and mining. He also believes that cryptocurrency activities should be carried out only with the help of platforms and operators that are included in the register of the Bank of Russia. He added:

“I compare cryptomania to gambling addiction: the phenomenon exists, there are those willing to take risks — well, you are welcome to take risks, but under strict regulation and control.”

Earlier, Aksakov reported that in the fall of 2022, Russian lawmakers would begin work on the legalization of the digital ruble as a third form of money, the asset will be used as a means of payment in a distributed ledger.

The Central Bank said that cryptocurrency mining in Russia could be legalized, provided that the sale of miners' proceeds in the form of digital assets would take place outside the country.

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