RACIB President spoke about the potential of the Russian cryptoeconomy
Posted On March 23, 2021
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RACIB President Yuri Pripachkin believes that the development of cryptoeconomics is an important area that will help Russia bypass sanctions, attract foreign capital and strengthen the country’s position in the international arena.
IN RIA interview «news» Yuri Pripachkin said that the transfer of issues of legislative regulation of the crypto market will allow taking into account the similar experience of other countries. At the same time, we do not need to borrow ready-made solutions, but create our own. According to him, Russia has the capabilities and motivation to become a leading country in this direction, and cryptoeconomics and blockchain derivatives will help create an alternative financial system to bypass the sanctions imposed by the US Federal Reserve..
Thanks to the development of the cryptoeconomy, the country will be able to attract up to $ 20 billion annually, but this requires appropriate legislation. In addition, RACIB believes that mining should not be equated with entrepreneurial activity and taxed. Loyalty in this matter will help not only develop the country’s energy sector and create new jobs, but also strengthen Russia’s position in the global digital economy..
Yuri Pripachkin considers it necessary to legalize ICO and give impetus for development, since this is an important element of cryptoeconomics, as well as an excellent way to shorten the path between the investor and the project. The President of RACIB says that the association has proposed a simple system of work for the future register of cryptoinvestors, in which an INN will be enough to register a wallet, and the Federal Tax Service will be in charge of administration, but the issue is still being considered.
Meanwhile, Bermuda is already creating a new type of banks for fintech and blockchain companies..