Oleg Deripaska: The Central Bank of Russia should develop the cryptocurrency industry – Bits Media

Russian entrepreneur and billionaire Oleg Deripaska called on the Central Bank of Russia to pay more attention to the development of the cryptocurrency market to strengthen the country's national security.

Oleg Deripaska expressed his opinion, that the Central Bank of Russia is in vain ignoring the growing market cryptocurrency and does not invest in the development of this area. According to the businessman, uncontrolled digital payments can not only negate the effectiveness of the economic sanctions mechanism, directed against Russia, but also become a weapon of economic destruction against the economies of unfriendly countries. The businessman’s position is indirectly confirmed by a document from the US Treasury, dedicated to the review of the imposed sanctions, Which is said:

"They [cryptocurrency circulation mechanisms] also expand the capabilities of our adversaries, seeking to create new financial and payment systems, designed to reduce the global role of the dollar. We are aware of the risk, what if you don't control them?, these digital assets and payment systems could undermine the effectiveness of our sanctions.".

Deripaska is not the only Russian businessman, who expresses concern about Russia's technological lag in the development of the cryptocurrency industry. RACIB President Yuri Pripachkin criticized the Russian government for, that over the past four years he has failed to “bring out of the shadows” the domestic segment of the cryptocurrency market. He accused the regulator of a biased attitude towards cryptocurrencies and artificially slowing down the development of the Russian crypto industry.