Dmitry Peskov, the special representative of the President of the Russian Federation for digital development, in an interview to the channel “Russia 24” announced about the intentions of Russia to implement the regulation of cryptocurrency in partnership with the intergovernmental organization against money laundering FATF (Financial Action Task Force).

Peskov pointed out that one of the main features of virtual money is their global nature. He explained that they were intentionally designed so as not to fall under the national regulatory tools. Therefore, the Russian authorities have concluded that it is necessary to act jointly by global regulators. The choice fell on FATF, since the risk of financial pyramids, as well as uncontrolled emission of cryptocurrency, is too great.

The representative of the president does not exclude the possibility of creating a separate direction of law for this sphere, drawing parallels with the antitrust regulation.

FATF is expected to develop official standards for cryptocurrencies at the end of this year. The Russian authorities are planning to adopt these recommendations aimed at combating the laundering of illegally obtained capital in cryptocurrency markets. However, Russia has yet to finalize its own laws relating to digital assets.