Bitcoin and other cryptocurrencies cannot be considered as e-money, however, they fall under the legal concept of “Other assets”. This position was expressed by the acting Minister of justice, Alexander Konovalov, according to the Agency Prime.

According to him, the Ministry of justice has developed a consolidated opinion in relation to cryptocurrencies. The occasion was previously arisen in the legal community the debate about whether cryptocurrency assets in accordance with the legislation of Russia.

At the moment, the official said, if the digital money is not property, their theft could not be considered a criminal offense, because the object of the crime itself is not.

Alexander Konovalov is convinced that the Russian Federation should impose strict regulation of cryptocurrencies, because otherwise all this will turn into a pyramidal design.

“The point is not put, if crypto-currencies will develop, you will need additional regulation. The main thing is to provide security so that it does not become the construction of new financial pyramids”, — he said.

He also added that the emergence of the phenomenon of cryptocurrencies is a manifestation of people’s desire to get away from total dependence.

As mentioned earlier ForkLog, may 22 the state Duma will consider the bill on the regulation of primary offerings of coins (ICO), developed by the Ministry of Finance and the Central Bank. In this document the definition of “cryptocurrency”, “mining”, “token”, and also specifies General rules for the regulation of the market ICO.