Home News Eurasian Economic Commission: Cryptocurrencies may have a big impact on macroeconomic stability

Eurasian Economic Commission: Cryptocurrencies may have a big impact on macroeconomic stability

The Eurasian Economic Commission (EEC) composed a report on cryptocurrencies addressed to the governments of the Eurasian Economic Union (EEU) member states. The report aims at enhancing the regulation in the sphere, as revealed by the EEC Minister of Integration and Macro Economy Tatyana Valovaya during the recent press conference in Moscow.

“We have prepared an analytical report and will soon present it. The document will contain the analysis of what cryptocurrencies are about, what is going on in the world, what are the regulatory approaches implemented by different countries,” – she said.

Valovaya also noted the need for regulatory mechanisms in the sphere, which would correspond to the world’s best practices.

“The EEC countries are currently starting to elaborate cryptocurrency regulation. There is a need for harmonized regulation devoid of contradictions. If otherwise, we will either have to face certain obstacles, or “grey loopholes” for circumventing national regulation,” – the official specified.

The Minister of Integration and Macro Economy added that the phenomenon of cryptocurrencies starts taking serious scale and volume and may soon become a serious factor influencing the macroeconomic stability.