Bear in Blockchain: Russia’s frosty attitudes to cryptocurrency thawing

The Blockchain technology is attracting an increased interest from the Russian financial institutions and IT companies and may be poised to overcome skepticism from Russian regulators.

This is perhaps not surprising, given Russia’s prominence in the technology sector with over 120,000 local programmers and continuing growth in e-commerce and online activities.

However, certain legal obstacles may still pose challenges for promoters and developers of cryptocurrencies and other Blockchain applications, write Brian Zimbler, Dmitry Dmitriev and Andrey Ignatenko of Morgan Lewis in Moscow.