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Russian Billionaire: The Bank of Russia Should Embrace Crypto

Russian Billionaire The Bank of Russia Should Embrace Crypto
  • Russian Billionaire slammed Central Bank’s crypto policy
  • He said even El Salvador realized the need for Bitcoin

Russian Billionaire slammed Central Bank’s crypto policy. He said even El Salvador realized the need for Bitcoin.

According to Russian billionaire Oleg Deripaska, the Bank of Russia, the country’s central bank, should embrace crypto. In addition, he cited El Salvador’s bitcoin law as an example.

Oleg Deripaska is the founder of Basic Element. It is a Russian industrial group that focuses on aluminum, energy, construction, and agriculture.

Further, Deripaska commented on the Russian central bank’s crypto policy in his Telegram channel last week. He said,

Even a developing country like El Salvador realized the need for digital currencies and took a simple path – recognized bitcoin as a means of payment.

Let’s note that the Salvadorian Congress passed President Nayib Bukele’s Bitcoin bill. On June 9, the bill passed and made bitcoin legal tender in El Salvador. Furthermore, the country now focuses on bitcoin mining using energy from volcanoes.

Also, Deripaska asked when developments in fintech will pierce a hole in the wall of the fear of the Bank of Russia. Besides, he questioned when Russian citizens would receive an actual financial instrument.

He also asked when the citizens will receive real financial that ensures freedom in foreign trade contracts, rather than just formal replies. And press releases about the development of the digital ruble.

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Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.