Russia Picks Pilot City to Launch Two Cryptocurrency Agencies

A city in Russia has been selected as a pilot city to launch two cryptocurrency agencies, following mandates by president Vladimir Putin. Seminars will be offered where participants can receive certificates allowing them to engage in crypto professions as well as learn to protect themselves from cyber attacks.

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Vladivostok Chosen

Following a mandate by Russia’s president Vladimir Putin for cryptocurrency regulations to be finalized by July of next year, Vladivostok was chosen as a pilot city to launch two cryptocurrency agencies, according to local publications.

One is a crypto-advisory agency; the other is a crypto-detective agency. Victor Fersht, the director of the Inter-University Center for the World Trade Organization (WTO) in Russia explained, as quoted by Prima Media:

At the last meeting of the State Duma, a decision was taken to establish a state structure – a crypto-detective agency, the first pilot branch of which will be opened in Vladivostok and an advisory center for all those who want to start working with cryptocurrency.

Vladivostok is the largest city and the capital of Primorsky Krai, the largest federal subject in the Far East in terms of economic size and population.

A roundtable devoted to cryptocurrency discussions was held at the end of last week in Vladivostok to detail the plans for the two agencies, the news outlet reported. The crypto-advisory agency will be located in the main building of the Vladivostok State University of Economics and Service (VSUES).

“A few months ago I did not hear anything about cryptocurrency and did not know these words – blockchain, mining, bitcoins,” VSUES director Tatyana Terentyeva was quoted saying. “But now even President Vladimir Putin has set a task to develop a legislative base for regulation in this sphere.” Noting that this presents new directions in the university’s educational programs, she emphasized, “this is now topical, important and timely.”

The Two Crypto Agencies

The Vladivostok crypto-advisory agency will be the first in Russia aimed at providing advice to citizens who want to work with cryptocurrencies, Tass reported. Fersht said that it will be established by VSUES in conjunction with the Far Eastern Federal University (FEFU), the Ministry of Internal Affairs for Primorsky Krai and the Federal Tax Service.

The agency “will begin work on November 15 and will be open to all, anyone will be able to come and get advice,” he noted. Moreover, there will be regular seminars starting on that day for people who want to work with cryptocurrencies, such as advisors and mentors, Fersht revealed, adding that:

If you want to get more information in depth, then sign up for the seminar, it lasts 36 hours, and you will receive a certificate and will [be allowed to] work with cryptocurrency or with clients as a professional.

The other agency is “a pilot project of Russia’s first crypto-detective agency for the Far East based on Interpol,” Prima Media described. It will help citizens “learn to protect themselves from fake cyber-wallets, phishing sites, and hacker attacks,” the publication noted. According to Fersht, “if this project proves [to be] successful, then in the middle of next year, this structure will join the federal crypto-detective agency.”

What do you think of Russia establishing a pilot city to launch crypto agencies? What do you think of the two agencies? Let us know in the comments section below.

Images courtesy of Shutterstock and Prima Media.

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