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Assurance By Russian Prime Minister To Boost The Cryptocurrency Market

Posted on: Feb-2019 | By: MarketNReports | Software

There are numerous countries such as Bolivia, Iceland, Kyrgyzstan, Ecuador, and Vietnam that appear to have some type of crypto ban in place. At the same time, various other countries such as Russia and Thailand had announced a ban on digital currencies but then backpedaled the same. In this situation, the latest speech by Dmitry Medvedev, Prime Minister, Russia, at the Gaidar forum, is of great significance. Recently, he stated that the immense 2018 bear market is not a motive to bury crypto. TASS, a Russian news organization reported statements by Medvedev.

In this speech, Medvedev presented the crypto market scenario as one of the key questions on the global community’s program, together with other challenges. It includes shifts in conventional markets, an increase in protectionism & social differences, and the scope & speed of the global digital revolution. While addressing the yearly global-level scientific conference on the economy, Medvedev insisted the public to closely scrutinize the current status of the global cryptocurrency markets. Aiming at the surprising unpredictability volumes in 2018, Medvedev explained that this situation cannot be a basis to “bury” cryptocurrencies. He highlighted on the fact that any economic or social phenomena hold both a dark as well as the bright side.

Medvedev stated “But sure, it is not a reason to bury them [cryptocurrencies]. There is both a bright side and a dark side here, as well as in any social phenomena and any economic institution. We should monitor carefully what is going on in the space.” Earlier last week, the head of Committee on Financial Markets, Russia, assured that Russian parliament’s lower chamber is in the process to schedule a discussion on the crypto regulation draft bill. This discussion is supposed to be carried out somewhere in between January or February 2019. The latest news has spread a positive wave creating hopes to prosper the global cryptocurrency market in the upcoming period.