Russian Duma: Bitcoin is Becoming 'Objective Reality'

The Russian parliament the Duma has said cryptocurrency “is becoming objective reality” following its legalization earlier this month.


In continuing debates over how to regulate Bitcoin and its ilk, the country’s Duma is attempting to work out an appropriate course of action.

“It’s worth noting that today, cryptocurrency is becoming objective reality,” Andrey Lugovoy, a member of the Security and Anti-corruption Panel, said Tuesday.

Given its nature, it’s important to recognize the benefits and risks involved in legalizing virtual currency. It is a new instrument and we should be careful not to create hurdles for technological innovation in the financial regulation sphere.

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