In today’s edition of Bitcoin in Brief we’re focusing on developments in the realm of international politics and economics regarding cryptocurrencies. The Organization of Economic Cooperation and Development is looking into the possible uses of digital coins and the associated technologies. Kazakhstan is calling for the adoption of common crypto rules by the United Nations, while Iran and Russia are thinking about using cryptocurrency in bilateral trade.
Also read: Bitcoin in Brief Wednesday: Coinbase Goes After Big Money as Nomura Creates Komainu
OECD Explores Cryptos and ICOs
The Committee on Digital Economy at the Organization of Economic Development and Cooperation (OECD) has started exploring blockchain-based cryptocurrencies and Initial Coin Offerings (ICOs). The international body also wants to help governments of member-states develop and implement legislation aimed at protecting consumer rights in electronic trade.
According to Elina Sidorenko, head of Russia’s interdepartmental group working to assess risks and opportunities associated with cryptocurrencies, the OECD will be used as a platform to discuss matters related to cryptos and token sales. These discussions will be held in the context of ensuring the safety of consumers of financial services, she said in a post on her Telegram channel.
The OECD and the Financial Action Task Force on Money Laundering (FATF) recognize the role of cryptocurrency as a means of payment and accumulation, Sidorenko emphasized. Both organizations also view ICOs as a good mechanism to attract funding, she added. “I hope that the generally positive rhetoric on cryptocurrencies in the OECD will not change,” the Russian official said, promising to keep her followers informed on further developments.
Astana Calls for UN Crypto Rules
Kazakhstan’s President Nursultan Nazarbayev thinks that the time has come to adopt common, international rules on cryptocurrencies
