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Home Crypto News Market Russian Billionaire Oleg Deripaska Says Central Bank Of Russia Should Pay More...

Russian Billionaire Oleg Deripaska Says Central Bank Of Russia Should Pay More Attention To The Development Of Crypto Market

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Russian businessman and billionaire Oleg Deripaska urged that the Central Bank of Russia must pay more attention to the development of the cryptocurrency market.

Oleg Deripaska expressed the opinion that the Central Bank of Russia ignores the growing cryptocurrency market in vain and does not invest in the development of crypto.

According to the businessman, digital payments can not only negate the effects of economic sanctions against Russia but also can become a weapon of economic strength and power against the economies of unfriendly countries.

The businessman remarks were indirectly confirmed by the document of the US Treasury Department on the review of the imposed sanctions, which says:

“They cryptocurrency empower our adversaries seeking to create new financial and payment systems designed to reduce the global role of the dollar. We recognize the risk that, if left unchecked, these digital assets and payment systems could compromise the effectiveness of our sanctions.”

Read Details: US Treasury: Cryptocurrencies Reduce The Effectiveness of Economic Sanctions


Deripaska is not the only Russian businessman to express concern about Russia’s technological lag in the development of the cryptocurrency industry.

RACIB President Yuri Pripachkin criticized the government of the Russian Federation for the fact that over the past four years the Russian government was unable to properly attend the domestic segment of the cryptocurrency market. He accused the regulator of a biased attitude towards cryptocurrencies and an artificial slowdown in the development of the Russian crypto industry.

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Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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