Russian Prime Minister Dmitry Medvedev has addressed the cryptocurrency bear market in a speech at the Gaidar international scientific forum, according to local media outlet TASS.
On Tuesday, Medvedev stressed the importance of carefully monitoring the situation of Bitcoin and other cryptocurrencies, citing their volatility as a cause for concern but stating that the technology had its benefits and should not be cast aside.
Speaking on the extreme volatility seen in 2018, the prime minister and former president said: But this, of course, is not a reason to bury them [cryptocurrencies]. Here there are both light sides and dark sides, as in any social phenomenon, in any economic institute. And we should just watch closely what happens to them.
Medvedev went on to discuss trade protectionism, social inequalities, and the speed and scope of global digital transformation, saying that the situation with the cryptocurrency market was among these global challenges.