The EAEU is unlikely to find common ground on cryptocurrency regulation, the official said

According to the official, the member states of the Eurasian Economic Union or the EAEU are trying to come up with a common position on the rules on cryptocurrency.

Iya Malkina, Assistant Chairman of the Eurasian Economic Commission ‘s Council, said EAEU member states had not supported a recent initiative for a single regulatory framework for cryptocurrency in the Union.

IN press briefing Malkina explained on Wednesday that the Eurasian Economic Commission had received several proposals to synchronize regulations in the blockchain and cryptocurrency sector. The EEC also recommended the development of a basic single regulatory framework within the EAEU with a single vocabulary and principles. “However, this proposal did not find support,” the official said.

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

EAEU is an economic union of states in Eastern Europe and Western and Central Asia, whose member countries include Belarus, Russia, Kazakhstan, Armenia and others. The Union was created in 2014 to facilitate the free movement of goods and services and to ensure common policies in the macroeconomic sphere.

As Cointelegraph has previously stated, EAEU is trying to find one approach to support cryptocurrency regulation, releases his first message on issues related to the regulation of cryptocurrencies in 2019. Earlier, the Russian Ministry of Finance urged that The EAEU will have to introduce its own digital currency circumvent sanctions by the United States.

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