Fellow member states of the Eurasian Economic Wedlock, or EAEU, accept been struggling to come up with a shared stance regarding cryptocurrency regulations, according to an official.

Iya Malkina, assistant chairman of the Eurasian Economical Commission Board, stated that EAEU member states did not back up a contempo initiative for a uniform cryptocurrency regulatory framework within the union.

In a press briefing Wednesday, Malkina explained that the Eurasian Economic Commission received several proposals to synchronize regulations in the industry of blockchain and crypto. The EEC besides recommended developing a basic uniform regulatory framework within the EAEU with a unmarried glossary and principles. "Still, this proposal did not notice support," the official said.

Malkina said that the EEC has been actively analyzing the bear on of cryptocurrencies on the macroeconomic stability of the EAEU member states since December 2017.

The EAEU is an economical union of states located in Eastern Europe and Western and Central Asia, with fellow member countries including Republic of belarus, Russia, Republic of kazakhstan, Armenia and others. The union was formed in 2014 to facilitate the complimentary movement of goods and services as well as provide common policies in the macroeconomic sphere.

Every bit previously reported past Cointelegraph, the EAEU has been seeking to find an approach to promote cryptocurrency regulation, publishing its first report on issues associated with crypto regulation in 2019. Previously, the Russian Ministry of Finance urged that the EAEU will take to launch its own digital currency to circumvent sanctions past the The states.