Russia To Educate Its Citizens On Cryptocurrency

In a TV interview on the Rossiya 24 channel, Russian Finance Minister Anton Siluanov stated that his government will work to educate the country’s masses on cryptocurrencies, particularly on the potential dangers associated with investing in them.

"We see here more risks than recommendations on investing into instruments of such kind. That is why an explanation of potential consequences of investments into unregulated and hardly predicted instruments will be an issue of financial literacy we will support,” he announced.

The story was reported by Russian state media outlet TASS, which explained that the drive to inform Russians about virtual currencies is part of a larger strategy to improve financial literacy in the nation.

The news platform said that Prime Minister Dmitry Medvedev has already approved the program, which is slated to run from this year until 2023.

From 2008 to 2013, Russia partnered with the World Bank and the Organisation for Economic Co-operation and Development to launch a similar initiative, the Russia Trust Fund for Financial Literacy and Education.

Siluanov’s name recently cropped up in the blockchain news circuit when he told reporters that Moscow intends to regulate cryptocurrencies like securities.