Pavel Livadny: “The Federal Law Is Needed To Regulate Cryptocurrency And Blockchain”

Deputy director of rosfinmonitoring paul livadny believes that it is necessary to create a federal law on the regulation of cryptocurrency and technology blockchain, according to forklog.Com.

Livadan said that the mechanisms of operation of digital currencies are based on trust, they do not give clear guarantees to the user. The federal law must establish legal criteria for protecting user rights and transmitted data.

Pavel livadny noted:

«The technology of blockchain underlying cryptocurrency will definitely penetrate the russian expanses in the near future, and this question should be streamlined by law».

Previously, the expert expressed the view that the prepared bill prohibiting cryptocurrencies in the russian federation must be revised with an emphasis on regulation, and not for prohibitions.