EAEU members did not support the introduction of a common approach to the regulation of cryptocurrencies

Members of the Eurasian Economic Union (EAEU) have no consensus on the need to “harmonize” the legislation of countries regarding the regulation of crypto assets. This was stated by the assistant to the chairman of the Board of the Eurasian Economic Commission (EEC) Iya Malkina, writes “Belt” .

According to her, the EEC has been studying the impact of cryptocurrencies on the macroeconomic stability of the EAEU members since 2017. 

“From our side, there was a proposal to adopt a recommendation on the formation of a harmonized regulatory framework within the EAEU, which would include a single glossary and principles. However, this did not find support from the parties, ”she said.

Malkina noted that at present, the member states do not have a common opinion on the need to develop a “harmonized legal environment for the use of digital assets, digital signs and cryptocurrencies in the union.”

The EAEU includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan.

Recall that in 2018, the then head of the Russian government, Dmitry Medvedev, suggested that the EAEU countries bring closer approaches in regulation, as well as create international conventions for cryptocurrencies.

Later, the EEC announced plans to develop a unified approach to the regulation of cryptocurrencies and ICOs.

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