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Official Says That EAEU Probably Won’t Find Common Ground on Crypto Regulation

Member states of the Eurasian Economic Union (EAEU) have been working on coming up with a shared stance regarding crypto regulations, according to an official, but they don’t seem to find common ground.

Iya Malkina, who serves as an assistant chairman for the Eurasian Economic Commission Board, commented that member states of the EAEU didn’t support a recent initiative for a uniform crypto regulatory framework that could be applied to the entire union.

Malkina declared that the Eurasian Economic Commission (EEC) analyzed a series of proposals that would’ve synchronized regulations in the industry of blockchain and crypto. The EEC had also recommended creating a basic uniform regulatory framework for the entire EAEU with one glossary and principles. But, according to the official, “the proposal did not find support.”

The official has revealed that the EEC has been analyzing the crypto impact on the macroeconomic stability of the EAEU since December 2017.

The EAEU represents an economic union of states across Europe and Asia. Among its members are Russia, Belarus, Armenia, and Kazakhstan. It took form in 2014 in order to facilitate the free movement of goods and services and offer common policies in the macroeconomic area.

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