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The Bank of Russia discusses Russia’s future at tech forum

future of cryptocurrencies in russia

The governor of the bank of Russia gestured towards the changing stance of dealers towards crypto-currency and startups in the 4th FINOPOLIS tech forum on October 17. She stated that during the last 12 months the crypto-hype soared, and is beginning to die down.

Russia has found itself nowhere in matters of legislation regarding Blockchain and ICOs, as despite constant pressure from the president there seems to be a prolonged delay regarding the matter.

Many of the nation’s banks appear to be interested in the idea and have started researching its feasible applications.

She further added that the future is moving in the direction of digital currency and it is no longer the demand of veteran clients but the need of the average one. However, there seems the need of a breakthrough as the country’s previous attempts has bored little fruit.

Moreover, previously crypto-currency has had a terrible interaction despite the total absence of any sort of regulations.

She stated that the bank would do its utmost in raising awareness about crypto-currency both to increase their interests in investing and to protect them from frauds corrupting the sphere.

She believed that digital currency would not only be an efficient method of payment but also aid the people that have no access to their banking facilities

Though the bank is strictly against other crypto-currencies, it has urged the government for a national crypto-currency, which caught the eyes of certain government officials including deputy Prime minister.

Igor Shuvalov First deputy Prime Minister considered himself a supporter of digital currencies and was convinced that Russia should have its own digital currency.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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