Development of block chain and cryptocurrency in EAEU

Cryptocurrency is an innovative financial instrument. The ministers of the Eurasian Economic Commission, leading experts and financiers discussed the impact of block chain technologies and digital currency on macroeconomic policies in the Eurasian region at the EEC headquarters in Moscow. Moreover, they talked about the cryptocurrency’s economic effect and prospects to the Eurasian Economic Union. Participants of the discussion are confident that it is necessary to build a common position in currency regulation and formulate unified international standards. The parties also considered a package of initiatives to create the Eurasian financial and payment platforms related, one of the makor projects of the Eurasian Economic Union.

TATYANA VALOVAYA, EEC MINISTER ON INTEGRATION AND MACROECONOMICS:

- Today there is a lot of talk around the block chain and the crypto currency, but no one knows what they really are. The crypto currency can be a universal means of payment, and can be a bubble. However, the technology of the block chain will remain in any case, and the EEU countries should agree on approaches and we need to talk about this.