Russia Sets Two Government Agencies To Educate Citizens on Cryptocurrency

Announcements, Blockchain, News | October 31, 2017 By:

Two consumer agencies designed to educate citizens on the intricacies of cryptocurrency are reportedly set to be created in Vladivostok, Russia. The move follows Russian President Vladimir Putin’s recent mandate on cryptocurrency regulations, which are set to be finalized in July of 2018.

The new government agencies will be the Crypto-Advisory and Crypto-Detective agencies, pilot branches tasked to educate and guide citizens who want to work with digital assets.

The Crypto-Advisory agency will be tasked to advise people and is set to open on Nov. 15. The branch will be open to everyone, especially the people who want to know more about cryptocurrencies. Seminars will be held on the first day, and individuals who attend will receive a certificate and be eligible to work with clients as professionals afterward.

With the first cryptocurrency agency focusing more on briefing people on the medium of exchange, the second one, the Crypto-Detective agency, will try to help citizens on proper safeguarding. This includes dealing with phishing sites, fake cyber wallets and hacker attacks, threats that exist in the modern world.

A lot hinges on the two pilot crypto-currency branches. Should the two preliminary agencies turn out to be successful, both are likely to be integrated with russia’s federal Crypto-Detective agency. This is the agency that will help assist the Russian government in managing companies against threats such as money laundering, tax evasion, and other finance-related issues.