Share this article
Russia Wants Regulators to Research Blockchain Security Risks
The Security Council of Russia plans to research the risks of blockchain, according to a government statement published today.
By Wolfie Zhao
Updated Sep 11, 2021, 1:30 p.m. Published Jun 29, 2017, 4:40 p.m.
Make us preferred on Google
The Security Council of Russia wants to see more research conducted into the security risks of blockchain, according to a government statement published today.
The group, comprised of ministerial offices and agency heads related to national security, is chaired by Russian President Vladimir Putin. The statement, per a rough translation, indicates that the Russian government wants to resolve "a number of significant...issues associated with information security" as segments of the country's financial sector move toward adopting the tech.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The council's Interdepartmental Commission met to discuss the matter, though the exact timing of the meeting isn't immediately clear.
The announcement signifies the latest blockchain-related development within the highest echelon of Russia's government. Dmitry Medvedev, who serves as prime minister, has spoken positively about the tech and in March ordered several offices to begin researching public sector applications. Putin himself recently met ethereum creator Vitalik Buterin during a recent event.
Statements from Russia's Communications Ministry suggest that Russia could implement blockchain-related rules in the next two years, even though the country has yet to conclude a long-running effort to regulate bitcoin and other digital currencies.
Recent news reports indicate, however, that the digital currency rule-making process may be moving ahead.
Talking to Russia's international news agency RIA Novosti, Vadim Dengin of the State Duma, the lower house of the national parliament, said he believes hearings could begin soon on bills related to digital currency in spite of some internal resistance.
Image Credit: Evgenii Sribnyi / Shutterstock.com
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
XRP climbs to $1.90 but struggles to break out of tight range
Traders are watching $1.88 as support and $1.94–$2.00 as the levels XRP needs to clear to break consolidation.
What to know:
- XRP rose about 0.4 percent to trade near $1.90, but remained locked in a narrow consolidation range.
- Support around $1.88 has repeatedly attracted buyers, while rallies continue to stall below the $1.92 to $1.94 resistance band.
- Traders expect range-bound price action to persist unless XRP breaks above $1.94 toward $2.00 or falls below $1.88 toward the $1.80 area.
Top Stories
