Russian Prime Minister Medvedev: Don’t Bury Cryptocurrencies Yet!

Russia generates quite a lot of crypto-related headlines lately. Is it just a coincidence that many cryptocurrency events currently surround Russia, or is it some sort of coordinated effort of the Russian Federation to use cryptocurrency?

And now more interesting crypto news are arriving from Russia, this time directly from the state’s Prime Minister Dmitry Medvedev.

During a speech at the plenary meeting of the 10th Gaidar Forum where he delineated global challenges that the Russian economy is facing, Prime Minister Medvedev addressed specifically the current cryptocurrency status. Medvedev acknowledged that cryptocurrencies “showed exceptional volatility” in 2018, but then he added the following fascinating remarks:

But this, of course, is not a reason to bury [cryptocurrencies]. There are both light sides and dark sides, as in any social phenomenon, in any economic institute. And we should just watch closely what happens to them.

If so, the head of the Russian Cabinet has made quite a sensible statement, in itself, regarding crypto. But if you’re a crypto enthusiast, don’t jump around in mirth just yet; it isn’t clear what is the agenda behind Medvedev’s message. After all, he is a top-level Russian politician – and as such, there usually is some kind of deliberate plan behind any public comment he makes.

In addition to these remarks by Prime Minister Medvedev, recently various security experts put the blame of the Ryuk Ransomware on Russian cybercriminals, a senior Russian official stated that a state-sponsored cryptocurrency might be created in the next few years, there’s still a huge drama around the alleged Russian Bitcoin fraudster Alexander Vinnik, not to even mention the involvement of cryptocurrency in the Mueller Investigation about Russian involvement in the 2016 U.S. election.

It therefore certainly appears that Russia is heavily invested in cryptocurrency; and to be perfectly objective, mostly on the dark sides.

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