Russia’s Prime Minister: Bear Market Is Not a Reason to Bury Cryptocurrencies

[Crypto]

The massive 2018 bear market is not a reason to bury crypto, Russian Prime Minister Dmitry Medvedev claimed in a speech at the Gaidar forum. Russian news agency TASS reported on Medvedev’s comments yesterday, Jan. 15.

Medvedev outlined the current crypto market situation as one of the main questions on the world community’s agenda, along with other challenges such as shifts in traditional markets, a rise in protectionism and social inequalities, and the speed and scope of global digital transformation.

Speaking at the annual international scientific conference on the economy, Russia’s prime minister and former president urged the public to closely observe the state of the crypto markets.

Pointing to the extraordinary volatility volumes in the past year, Medvedev argued that it is not a reason to “bury” cryptocurrencies, stressing that any social and economic phenomena has both a bright side and a dark side.

    “But sure, it is not a reason to bury them [cryptocurrencies]. There is both a bright side and a dark side here, as well as in any social phenomena and any economic institution. We should monitor carefully what is going on in the space.”

Earlier this week, the head of Russia’s Committee on Financial Markets stated that the lower chamber of the Russian parliament is planning to discuss a draft bill on crypto regulation in January or February.

Source: https://cointelegraph.com/news/russias-prime-minister-bear-market-is-not-a-reason-to-bury-cryptocurrencies

[khufuking]

I agree with what he said, people are rush shouting Crypto is dead every time the market has a downtrend and this should not be the case, Cryptocurrency has its ups and downs swings and that is totally normal in any new market or economy, also we need to know that Cryptocurrencies and Bitcoin did survive a lot of worst conditions before and get back stronger.

[Alcor]

Putin and Medvedev speak so much and controversially about cryptocurrency, that I still cannot imagine their main concept of the circulation and regulation of cryptocurrency in Russia. These are the politicians who can say one thing and do the exact opposite. Earlier, President Putin set the date until July last year to adopt the relevant regulations that would regulate the circulation of cryptocurrency in this country. Then this period was postponed to October. Now called the new term - January or February. Well, we'll see. I am not very optimistic about the fate of cryptocurrency in Russia.

[ardhanimaul]

It is true that with the bear market in 2018 there is no need to bury cryptocurrency, even though cryptocurrency is an advanced technology in the financial field, and is very useful for the world community. especially for transactions.

[jackythebleu]

Only sick people who want profits here and now will bury cryptos. Bearish market is good to invest in yourself and your crypto-related skills