Regulation is on the agenda of the authorities

Regulation is on the agenda of the authorities

Virtual coins, to the attention of legislators.

The largest US financial regulators, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) announced that they will hold a working meeting on digital coins on February 6th. The main topic of discussion will be the supervisory role that the two committees will have in the future, considering that all the legislative systems in the world are under pressure to regulate crypto activity.

The two commission chiefs spoke about the subject of cryptomonas, publishing together an article in the Wall Street newspaper stating:

The CFTC and the SEC, together with the other federal and national financial regulators, must continue to work with the justice authorities to ensure the transparency and integrity of the cryptos markets but, above all, to prevent fraud and abuse. These markets are new, evolving rapidly and expanding internationally. For this reason, authorities need to be flexible and able to adapt quickly.

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The issue was addressed in the World Economic Forum last week, most of the politicians who participated in the affirmation of the need to implement legal regulations on digital coins. Cryptomonads will also be discussed at the G20 Summit to be held in Argentina in March 2018, at the suggestion of France and Germany.

In the other part of the world, Russian Prime Minister Dimitry Medvedev said crypto regulations could not be limited to one country and proposed talks at the Eurasian Economic Union (EAEU – including Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia ).

At the conference called “The Digital Agenda in the Age of Globalization,” which took place on February 2 in Kazakhstan, Medvedev said that “it is impossible for laws on cryptomonas to be adopted in a single country, the legislative approach should be taken at Union level “.

In fact, in December 2017, President Putin suggested the creation of a cryptomonas that would be adopted not only at EAEU level, but would also include the BRICS (Brazil, Russia, India, China, and South Africa) member countries, as this would allow adopting blockchain technology and smart contracts in their interconnected economies.

Russia is already considering the possibility of implementing blockchain technology as early as March 2017, when Medvedev has asked the Ministry of Communications and the Ministry of Economic Development to study how it can be useful in governance.

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