May 18, 2022

EAEU unlikely to find common ground on crypto regulation, official says

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Member states of the Eurasian Economic Union, or EAEU, have been struggling to come up with a shared stance regarding cryptocurrency regulations, according to an official.

Iya Malkina, assistant chairman of the Eurasian Economic Commission Board, stated that EAEU member states did not support a recent initiative for a uniform cryptocurrency regulatory framework within the union.

In a press briefing Wednesday, Malkina explained that the Eurasian Economic Commission received several proposals to synchronize regulations in the industry of blockchain and crypto. The EEC also recommended developing a basic uniform regulatory framework within the EAEU with a single glossary and principles. “However, this proposal did not find support,” the official said.

Malkina said that the EEC has been actively analyzing the impact of cryptocurrencies on the macroeconomic stability of the EAEU member states since December 2017.

The EAEU is an economic union of states located in Eastern Europe and Western and Central Asia, with member countries including Belarus, Russia, Kazakhstan, Armenia and others. The union was formed in 2014 to facilitate the free movement of goods andTitle: EAEU unlikely to find common ground on crypto regulation, official says
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Published Date: Wed, 17 Mar 2021 11:12:12 +0000