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Deripaska urges central bank to take cryptocurrency seriously

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Russian oligarch Oleg Deripaska called on the Central Bank of the Russian Federation to stop “infantile turning a blind eye to the growing cryptocurrency market”. He wrote about this on his Telegram channel. This occurred after the US Federal Bureau of Investigation raided his homes in Washington and New York.

Thus, the billionaire stressed that cryptocurrencies such as Bitcoin (BTC) have a huge potential not only to help Russia avoid US sanctions but also to damage the US dollar.

In his opinion, the United States has long understood that uncontrolled digital payments can threaten the dollar. And also “to negate the effectiveness of the entire mechanism of economic sanctions.”

“What we don’t see doesn’t exist”

Deripaska mentioned a document on sanctions published by the US Department of the Treasury in October 2021, which talks about these risks.

“I wonder if you have read this document in the Bank of Russia? Or do they work on the principle of “what we don’t see doesn’t exist”? It’s time to open your eyes and take cryptocurrency seriously,” the billionaire wrote.

“In the aging American establishment, there are still a lot of people willing to fight,” he added.

The introduction of digital ruble and sanctions wars

Earlier in June, Deripaska had already criticized the central bank for its position on cryptocurrencies. And also stated that the introduction of the digital ruble would protect investments in the conditions of sanctions wars. He said that “even poor Salvador” realized the need for digital currencies and recognized Bitcoin as a means of payment:

“When will the development of financial technologies punch a hole in this wall of the superstition of our Central Bank? When will we, in addition to unsubscriptions and press releases about the “development of the digital ruble,” get a real financial instrument that ensures independence in foreign trade settlements?”

Meanwhile, the Bank of Russia “prefers to tighten the screws,” Deripaska stressed.

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