Conflicting cryptocurrency information coming out of Russia has almost become a trend these days. With so many different politicians having different views on Bitcoin, a unified approach seems highly unlikely right now. Anton Siluanov, the Russian Finance Minister, claims the government will be educating the masses on cryptocurrencies. More specifically, the public will be informed of the risks associated with investing in these currencies.
Russia Wants to Educate People on Cryptocurrency
It has to be said, there are a lot of conflicting opinions on Bitcoin and cryptocurrency in Russia right now. Opinions there range from banning cryptocurrency to launching mining facilities and even educational efforts right now. None of this indicates how things will actually play out in the coming months. There is still talk of legalizing Bitcoin in Russia, even though other government officials would like nothing more than to prohibit the use of cryptocurrency altogether.
To the average person, cryptocurrency still makes no sense whatsoever. That is not entirely surprising, as the concept is pretty difficult to wrap one’s head around. Cryptocurrencies aren’t regulated by banks or governments, which makes them less appealing to most people and more appealing to people who want to control their own money at any given time. For now, it seems the former camp is the majority, although it is only a matter of time until more people realize that they don’t control their wealth using traditional methods.
Educating the masses on cryptocurrency should be the first step in every case. After all, if people don’t know what it is or how it works, there is very little reason to regulate this niche market in the first place. There is only one reason why governments want to regulate cryptocurrency: it has become too big a trend to ignore any longer. Whether or not this is a positive sign for Bitcoin moving forward remains anybody’s guess right now, though.
In Russia, Finance Minister Anton Siluanov wants to introduce some form of educational program revolving around cryptocurrency. That will be pretty interesting to see, considering there are very few countries in the world actively trying to educate the masses on this new form of money right now. It is certainly true there are risks associated with investing in cryptocurrencies, but those same risks apply to making any other form of investment right now.
Interestingly enough, Siluanov doesn’t mean there will necessarily be regulation of Bitcoin and cryptocurrencies moving forward. That is rather unusual, especially considering it is such a topic of debate right now. This also does not mean Russia will not introduce any form of Bitcoin regulation in the future, of course. However, people should realize how useless such an undertaking is right now, since decentralized currencies cannot be controlled whatsoever. All governments can do is try to “punish” centralized companies, which are not the backbone of Bitcoin or any other cryptocurrency whatsoever.
Judging by the information provided by TASS, Russia’s educational effort will commence later this year and end in 2023. It is certainly possible the program will be extended even further, although nothing has been set in stone just yet. Russia is trying to make some big moves in the world of cryptocurrency right now, although it remains to be seen how these ventures will play out in the long run.