{"id":8512,"date":"2021-06-21T03:54:08","date_gmt":"2021-06-21T03:54:08","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/russian-billionaire-slams-central-banks-crypto-policy-says-even-el-salvador-realizes-the-need-for-bitcoin\/"},"modified":"2021-06-21T03:54:08","modified_gmt":"2021-06-21T03:54:08","slug":"russian-billionaire-slams-central-banks-crypto-policy-says-even-el-salvador-realizes-the-need-for-bitcoin","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/russian-billionaire-slams-central-banks-crypto-policy-says-even-el-salvador-realizes-the-need-for-bitcoin\/","title":{"rendered":"Russian Billionaire Slams Central Bank\u2019s Crypto Policy, Says Even El Salvador Realizes the Need for Bitcoin"},"content":{"rendered":"

Russian billionaire Oleg Deripaska wants the Bank of Russia, the country\u2019s central bank, to embrace cryptocurrency, citing El Salvador\u2019s bitcoin law as an example. El Salvador recently passed a bill making bitcoin legal tender in the country.<\/strong><\/p>\n

Billionaire Oleg Deripaska is the founder of Basic Element, a Russian industrial group focusing in areas such as aluminum, energy, construction, and agriculture. In 2018, the U.S. Department of the Treasury\u2019s Office of Foreign Assets Control imposed sanctions against Deripaska and some of his companies. According to Forbes, his net worth is currently $4.7 billion.
\nDeripaska commented about bitcoin and criticized the central bank\u2019s cryptocurrency policy in his Telegram channel last week. He said that even a poor country like El Salvador \u201crealized the need for digital currencies and took a simple path \u2013 recognized bitcoin as a means of payment.\u201d
\nAccording to the World Bank, \u201cEl Salvador suffers from persistent low levels of growth and poverty reduction in the country has been moderate.\u201d Humanium estimated that four out of 10 people of El Salvador live in poverty.
\nEl Salvador passed a bill to make bitcoin legal tender<\/a> on June 9. The country is now focusing on bitcoin mining using energy from volcanoes<\/a>.<\/p>\n

<\/p>\n

Deripaska questioned when developments in financial technologies (fintech) will \u201cpierce a hole in this wall of superstition\u201d of the Bank of Russia. He also questioned when Russian citizens will \u201creceive a real financial instrument that ensures independence in foreign trade settlements,\u201d instead of just \u201cformal replies and press releases about the \u2018development of the digital ruble.’\u201d
\nLast month, Bitcoin.com News reported<\/a> that the Bank of Russia is preparing to launch a prototype of the digital ruble by the end of the year. The Russian central bank digital currency (CBDC) will be designed as a unique digital code stored in dedicated electronic wallets and will become a full-fledged means of payment that Russians can use alongside the regular ruble.
\nMeanwhile, Russia\u2019s Minister of Foreign Affairs, Sergey Lavrov, said<\/a> last week that \u201cthe time will inevitably come when cryptocurrencies will play a very significant role, occupy a very significant segment in international settlements.\u201d<\/p>\n

Do you think the Bank of Russia should follow El Salvador\u2019s example and embrace bitcoin? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nFeatured, Bank of Russia, bitcoin legal tender, Bitcoin Russia, central bank russia, El Salvador, Russia, russian, russian billionaire, Russian Central Bank<\/p>\n","protected":false},"excerpt":{"rendered":"

Russian billionaire Oleg Deripaska wants the Bank of Russia, the country\u2019s central bank, to embrace cryptocurrency, citing El Salvador\u2019s bitcoin law as an example. El Salvador recently passed a bill making bitcoin legal tender in the country. Billionaire Oleg Deripaska is the founder of Basic Element, a Russian industrial group focusing in areas such as…<\/p>\n","protected":false},"author":0,"featured_media":8513,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8512"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8512"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8512\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8513"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}