Tatarstan to start developing a mechanism to regulate cryptocurrencies

The head of the Republic’s Ministry of Digitalization, Airat Khairullin, proposed to create a working group for this purpose

11.04.2022 - 15:20

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What’s new? Airat Khairullin, head of the Ministry of Digitalization of the Republic of Tatarstan, proposed to create a working group to develop a regulatory framework for the circulation of digital assets in the region. He stated this at a meeting in the IT park, dedicated to the regulation of cryptocurrency, KazanFirst reports.

Information on the KazanFirst website

What else does the minister say? Khairullin said that the main task of the department is to convey to the federal government the idea that cryptocurrency should be studied. He emphasized that many people perceive cryptocurrency as something negative. In his view, such an attitude may have arisen because of the market speculation and the creation of the crypto Ponzi schemes. The minister believes that this issue needs to be highlighted and educational programs should be created for the population. He added:

“It is an issue of education. People need to be educated, and told, everyone needs to understand. The IT park should become an educational platform dedicated to the topic of cryptocurrency.”

What had happened before? In January, Khairullin suggested creating a zone in Kazan to develop and test mechanisms for regulating the cryptocurrency market in Russia. The official believes that the implementation of the project is possible within the framework of federal laws on digital financial assets and experimental legal regimes.

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