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Sanctioned Russian Oligarch Urges Central Bank to Embrace Bitcoin

Following the breakthrough in the Unites States of America, Russian Oligarch Oleg Deripaska has once more demanded from the Russian government to stop ignorant behavior towards Bitcoin mining and trading. He pointed at the United States Federal Bureau of Investigation’s decision of brining Bitcoin into the mainstream.

The Russian Oligarch also said that the Russian government must take inspiration from the U.S treatment of Bitcoin and other crypto currencies as well. In his interview to Telegram, Oleg Deripaska said that the Central Bank of Russia has been “deliberate ignorant and avoid taking appropriate reaction regarding benefiting from the growing popularity of crypto market.” Where world is focusing on brining in the institutional investors in the crypto currency the Russian government is only concerned about the mining.

He further said the United States Security and Exchange commission is actively investing in the digital trading direction. The billionaire stressed upon his point of view that Bitcoin holds the power to reshape the economic dynamics of the future.  Investing in Bitcoin will not just provide Russian with the way to avoid U.S sanctions, but it will also create a whole new income stream for the Government.

He said that the rampant popularity of the Bitcoin has offered Russia a way to free itself from the U.S sanctions for once and all. Moreover, it will also weaken the U.S dollar.  He further added that
““The U.S. Had found out a longtime ago that out-of-control virtual payments are able to nullify the effectiveness of the complete mechanism of financial sanctions however additionally taking down the dollar as a whole.”

That’s why the private investors in the U.S have launched US dollar-backed stablecoins to protect the dollar from getting devalued.” He specifically brought up the case where the U.S Treasury reviewed the SEC sanctions and submitted the detailed review. He said that U.S Treasury in its report clearly stated that the digital currency is a real threat for the U.S. The Russian Oligarch criticized that current regime that they lack the ambition to capitalize on the factor which is most threatening for the U.S dollar.

He added that it is time for the Russian government and the Central Bank of Russia to open their eyes and mind about the crypto currency. The Russian Oligarch said that Russian policy makers must sit with the big names in the crypto currency and ask for the assurance about these names must not be involved in the unlawful crypto activities.

The Russian Oligarch not just slammed the Russian Central Bank, but he also criticized the government. He also tried to build the pressure on the policy makers so they might come up with the crypto friendly policy.