Russian industrial magnate Oleg Deripaska is the latest figure to criticize the Bank of Russia’s stance on cryptocurrency regulation in the country.
Deripaska went to his official telegram channel on Thursday explosion the Russian Central Bank for putting pressure on the cryptocurrency industry to avoid involvement in cryptocurrencies such as bitcoin (BTC).
The Russian oligarch pointed out that even small countries like El Salvador had moved to bitcoin by recognizing it as legal tender:
“Even poor Salvador, known for being close to the oft-cited Honduras, realized the need for digital currencies and went the easy way, recognizing bitcoin as a means of payment.”
Deripaska also criticized the central bank for its non-binding response to the development of the cryptocurrency industry, in particular the bank’s statement regarding the digital ruble. He argued that the bank should provide “a real financial instrument for independence in foreign trade agreements”.
Deripaska – one of Russia’s richest men – is the founder of Basic Element, one of Russia’s largest industrial groups, and Volnoe Delo, Russia’s largest charity. Since April 2018, they are billionaires and his companies sanctioned the US Treasury Department, with some allegations by the Office of Foreign Assets Control, including money laundering, bribery and extortion. His latest attempt to overturn sanctions failed, Reuters reported.
By openly blasting Bitcoin from Russia, Deripaska joined other critics, including Fedota Tumusov, a member of Russia’s State Duma who recently claimed that the bank was withshortsighted about cryptocurrency: “Cryptocurrencies are a reality. We either accept it or we lose. “