According to oligarch Oleg Deripaska, switching to Bitcoin will help Russia provide real financial instruments that allow the independence of foreign trade agreements.”
Oleg Deripaska a Russian industrialist, has been described as the biggest figure to condemn the Bank of Russia’s position on cryptocurrency regulation in the country.
The industrial tycoon pointed out that even a small country like El Salvador recognized Bitcoin as legal tender and turned to Bitcoin: “Even poor El Salvador near Honduras is aware of the need for digital currency and has taken a simple path. , Bitcoin as a means of payment”.
Deripaska continued to condemn the central bank’s evasive reaction to the development of the crypto industry, particularly in the bank’s statement on the digital ruble.
Earlier this Thursday, Derispaska criticized the Central Bank of Russia on his Telegram channel for putting pressure on the cryptocurrency industry to avoid participating in cryptocurrencies such as Bitcoin (BTC).
The industrialist believes the bank should provide a “veritable fiscal tool that enables autonomy in foreign trade deals.” Deripaska is among the wealthiest people in Russia.
Derispaska is the founder of Basic Element, one of the largest business groups in Russia, and Volnoe Delo, the largest charitable foundation in Russia.
In April 2018, the billionaire and his company were sanctioned by the United States Department of the Treasury, and some of the allegations from the Office of Foreign Assets Control include money laundering, bribery, and coercion.
In line with reports by Reuter, Derispaska’s recent efforts to abolish sanctions by publicly condemning the use of Bitcoin by Russian banks was futile.
Derispaska wasn’t the only critic, Fedot Tumusov, a member of the Russian State Duma, who recently believed that the bank was short-sighted about cryptocurrencies and also joined in criticizing the use of Bitcoin in Russian banks.