The ban on cryptocurrencies proposed by the Central Bank of Russia may lead to an outflow of IT specialists and damage a number of sectors of the high-tech economy. This was announced on January 22 by one of the founders of the VKontakte social network and the Telegram messenger Pavel Durov.
In his opinion, the ban on cryptocurrencies will have a negative impact on the high-tech industry, in particular, it will become an obstacle to the development of the blockchain.
“These technologies improve the efficiency and safety of many human activities, from finance to the arts,” he stressed.
In addition, he noted that Russia leads in terms of the number of highly qualified specialists in the blockchain industry. According to Durov, he understands the concerns of the regulator, but it is better to limit himself to soft regulation instead of a complete ban.
“Thoughtful regulation will allow the country to balance the distribution of power in the international financial system and become one of the major players in the new economy,” he added.
On January 20, the Central Bank presented a report in which he spoke about the dangers of cryptocurrencies for the economy. According to the regulator, the threat is to the country’s ecology, energy supply, and also causes a desire to violate the law. In addition, there are quite a few cases of fraud associated with cryptocurrencies.
The Central Bank proposed to introduce liability for Russian legal entities and individuals for violating the ban on the use of cryptocurrency as a means of payment. The Central Bank also proposed to ban financial institutions from investing in cryptocurrencies and related instruments.
On January 20, the President of the Cryptocurrency and Blockchain Association, Yuri Pripachkin, noted that the Central Bank needs to learn how to control the circulation of cryptocurrencies, and not try to ban it. Cryptocurrency market analyst Viktor Pershikov said that the issue of banning cryptocurrency mining is very serious and the Central Bank should discuss it with experts in this field. He noted that he was not ready to unambiguously say that Russia would go for it.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
