Elina Sidorenko at RBW spoke about the problems of cryptoeconomics
At the Russian blockchain week conference, Elina Sidorenko said that now no country in the world has a decent regulation of cryptoeconomics due to the lack of agreements at the international level.
She began with an overview of the current situation in Russia, hoping deep down that the State Duma would not have time to see the digital assets bill in third reading before the holidays to avoid confusion. In her opinion, the text of the document requires serious improvements and does not stand up to criticism when analyzing its practical implementation. As an example, she cites the placement of tokens, which is spelled out in the law, but there are no limits, terms and those responsible for maintaining the register of digital assets..
Elina Sidorenko says that the token in the capacity in which it is now proposed by the bill can be compared to a chronic illness when an investor buys them, but due to the limited settlement system and the impossibility of converting, he does not know what to do with them next. Lack of turnover does not allow protecting the interests of owners of virtual currencies, since they are not recognized as property.
Elina Sidorenko calls cryptocurrencies «unique economic and technological derivatives», and the community must understand this as soon as possible in order to make the right decisions further. Adding that Russia should study the international practice of their application. She also believes that by the second reading only its name will remain from the existing version of the bill, since initially it was only adopted «for check».
However, according to her, the situation is similar all over the world, and now there is no good legislative regulation in any country. This is due to the lack of agreements between the world community on key issues and the fact that many banks do not even want to hear about virtual currencies. For example, in Switzerland, recognized as the most prosperous country for the crypto economy, over the past six months, not a single license has been issued to engage in cryptocurrency activities..
In addition, she says that more than 20% of the bitcoins in circulation were associated with illegal activities and the owner can hardly prove that he was not involved in it. Since, from the point of view of the regulator, anyone can create many wallets to try to obfuscate the tracks. This can only be avoided by creating a unified system for identifying addresses and users..
Summing up, Sidorenko said that the crypto community should draw a clear line between the economy and personal income in order to start discussing the main problems..
Cryptoeconomics In 30 Minutes by Vitalik Buterin (Devcon5)
A little earlier, Sidorenko, in an interview with RBC TV channel, said that no one knows what the regulation of cryptocurrencies will be..
text: Ivan Malichenko, photo and video: RBW