The Eurasian Economic Commission, which serves as an executive body of the Eurasian Economic Union (EAEU), has prepared a report on cryptocurrencies to promote regulation in the area. Russian news agency TASS reports on the development on Monday, Jan. 28.

The Commission’s minister for integration and macroeconomics, Tatyana Valovaya, said that EEU — a political and economic union established by Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan in 2014 — aims to create a consolidated financial market by 2025. As the cryptocurrency and blockchain industries are becoming more robust, the EEU has to study them, she continued.

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