The ban on cryptocurrencies will lead to an outflow of IT specialists from the country
The founder of the Telegram messenger wrote his opinion on the proposal of the Central Bank of Russia to ban cryptocurrency in the country.
No developed country bans cryptocurrencies. Reason: such a ban will inevitably slow down the development of blockchain technologies in general. These technologies increase the efficiency and safety of many types of human activity - from finance to art, Durov writes.
The decision of the Central Bank of Russia, according to Durov, will lead to an outflow of IT specialists from the country and destroy a number of sectors of the high-tech economy.
In addition, he noted that Russia's neighbors - from Ukraine to Uzbekistan - following developed countries, adopt progressive laws in the field of blockchain. These states do not want to be left on the sidelines of technological and economic progress.
“Russia today is one of the leaders in terms of the number of highly qualified specialists in the blockchain industry. Thoughtful regulation will allow the country to balance the distribution of forces in the international financial system and become one of the major players in the new economy.
The desire to regulate the circulation of cryptocurrencies is natural on the part of any financial authority. However, while recommending a total ban on cryptocurrencies, the Central Bank of the Russian Federation proposes to throw out the baby with water. Such a ban is unlikely to stop unscrupulous players, but it will put an end to legal Russian projects in this area," said Pavel Durov.