MOSCOW (Sputnik) – Governments should educate people about the risks associated with cryptocurrencies and learn more about the blockchain technology before attempting to regulate its currency by-products, experts told Sputnik on the sidelines of an international conference “First Global Convention of Miners” held in Moscow. The event is organized by the lower chamber of Russian Parliament, the State Duma, with the help of companies operating in this field, such as Cellyco.

According to the organizers, delegates and speakers come from 15 countries, including Ukraine, India, Turkey, Israel and others are taking part. The conference in Moscow comes at a time when several nations are trying to determine what place cryptocurrencies will occupy in their economies.

Russia is set to take a first step toward a legal framework for cryptocurrency later this week. On Thursday, Russian Central Bank and Ministry of Finance will present a relevant bill.

In large part, panelists’ speeches and reports focused on the issues related to regulation of cryptocurrency, but there has been no consensus: some delegates advocated self-regulation in the field while others suggested that national governments should be fully in control. Many speakers remained neutral and were very careful in their assessments.

“I would like to see balanced regulation. Regulation should not stifle innovation, it should be responsible regulation,” Shikha Mehra, a senior research associate at the Jindal Global Law School, told Sputnik. Read more from…

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