$ 1,229.64 5.24%
$ 42.40 6.16%
$ 0.068561 3.46%
$ 4.60 2.89%
$ 21,471.00 1.97%
$ 239.18 1.41%

Russian PM believes crypto lost popularity; delays regulations

Russia pm cancel crypto regulation

The recent Prime Minister of Russia Dmitry Medvedev has given the updates with the rationale that the people are now less interested in this sector and therefore, there is no need to materialize the cryptocurrency regulations plan.

The Russian government was determined to work on cryptocurrency regulations, as the people were showing a lot of interest in this sector.

Therefore, they devised a plan to make federal laws for cryptocurrency regulations and adoption. The president of Russia Vladimir Putin gave the deadline of July of this year but, there is no discussion and updates so far, about the regulation procedure.

The Russian news agency Fontanka reported that Prime Minister has said that this is no more relevant issue. Medvedev updated that numerous discussions were carried out on crypto-terms regulation but, no legislation has been made and the environment is also not encouraging for this issue.

It is seen by many analysts as the ‘Missed Opportunity’, although the people’s interest in this sector has declined but, this can be temporary.

The crypto-world is a reality and there is a lot of chance of sustainable growth and advancements in this area and for that proper regulation is an utmost priority. Basing any crucial opinion on the temporary scenarios is totally absurd.

This can be analyzed as a short-term phase that will soon be ended. The decision of Russia to deprioritize the regulation is more like a golden opportunity they are missing and it will impact Russia in long terms.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Cryptocurrency Investments To Make in a Bearish Market - Shiba Inu (SHIB), Dogecoin (DOGE), and RoboApe (RBA)
ISO 20022 compliant crypto-list
Shiba Inu price analysis: SHIB expected to stay bullish for the next 24 hours
Monero Price Prediction 2022-2031: Is XMR Price Going Higher?

Follow Us

Industry News

Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users