Recap: #CryptoForum Conference in St. Petersburg Russia

The first ever CryptoForum conference titled “Bitcoin and Cryptocurrencies: Prospects for Development in Russia" was held on August 9, 2014 in St Petersburg, Russia.

The Cryptocurrency Foundation Russia (CCFR) organized the first international conference forum in St. Petersburg, Russia. In addition to Bitcoin-enthusiasts, the event also attracted Russian officials, Bank representatives and other professionals across various sectors such as legal experts, economists, entrepreneurs, top-managers of payment processing and IT companies as well as authors, writers and journalists.

Participating conference sponsors included:

Participants and observers noted that the #CryptoForum became the first event in the world where the speakers included government officials, particularly from watchdog and regulatory agencies, who shared their thoughts and forecasts for the future.

One such noteworthy presentation was a report by the head of the Information and Communication Department at the Federal Financial Monitoring Service Resource Center, Evgeny Volovik, who remarked that:

  • Bitcoin is not a monetary surrogate;
  • The Federal Financial Monitoring Service has evidence that terrorists prefer fiat over digital currencies;
  • If Russia is excluded from the world’s financial system then Russia will revert back to the time of the USSR and will trade with gold;
  • International sanctions against