Crypto-Currency & the Public Interest

Leading researcher of the Institute Kirill Molodyko has made a presentation at the conference "New Technologies and Legal Implementation", organised on February 9 by the Federal Chamber of Lawyers of the Russian Federation in conjunction with the Federal Chamber of Notaries and the Civic Chamber of the Russian Federation.

The experts analysed the experience of using blockchain technologies and suggested applying it within the framework of the institution of advocacy. At the session "Blockchain and the Law - a Success Story," Kirill informed that today there are legal and economic concerns of the state regarding crypto-currency. At the same time, the state's position is that private crypto-currencies will not be allowed to develop to the extent that they can become an alternative to the ruble. Among the possible advantages of crypto-currency, Molodyko cited the improvement of convenience and security of payments, the testing of new technologies without high costs for the state, and reducing costs for the main payment system. Summing up, he noted that crypto-currencies are unlikely to be banned, but the state will exercise control over them.

Among other speakers - partner at AB KIAP, head of tax practice, practice of blockchain technologies Mikhail Uspensky, assistant to the president of the Federal Chamber of Notaries Igor Renz, associate professor of the Department of Administrative Law and Administration of the Kutafin Moscow State Law University, Anastasia Sladkova. For news of the event, see the website of the Federal Chamber of Lawyers of the Russian Federation.