Russia takes cryptocurrency market under control

Baku. 28 August. REPORT.AZ/ “Crypto currency should be regulated as a financial asset and allow its purchase only to qualified investors on the Moscow Stock Exchange”. 

Report informs citing the RIA Novosti, Deputy Finance Minister Alexei Moiseev said.

“There is a point of view that like a bitcoin crypto-currencies is a financial pyramid. It is difficult to argue with this point of view. Such investments are high-risk. This determines our approach to their regulation. We suggest to regulate it as other property and classified as a financial asset. And allow only a qualified investor to buy and sell them on the exchange”, - Moiseyev said in an interview with Rossiya 24 television channel.

Moiseyev explained reasons for this decision by the necessity of protecting the rights of traders.Prevention of non-fulfillment of one of the parties' obligations on purchase and sale will be provided on the stock exchange.At present, the parties have no legal protection.

We see that in Western Europe and in our country increased the use of crypto currency for illegal operations. That is why operations carried out through the exchange.