Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
  • Login
Buy crypto
Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
Newblock
No Developed Nation Bans Cryptocurrencies, Telegram Founder Pavel Durov Warns Russia

No Developed Nation Bans Cryptocurrencies, Telegram Founder Pavel Durov Warns Russia

January 24, 2022
in Bitcoin News
411 13
0
Share on FacebookShare on Twitter

Pavel Durov, founder of the messaging app Telegram, has criticized Bank of Russia’s proposal to impose a blanket ban on a range of crypto-related activities. Such move would stifle high-tech development and chase away blockchain specialists, Durov says.

Durov Speaks Out Against Bank of Russia Push for Crypto Ban

The cryptocurrency ban proposed by the Central Bank of Russia (CBR) will destroy a number of high-tech sectors and spark an outflow of IT specialists, Pavel Durov, the man behind the popular-in-the-crypto-community messenger, Telegram, has predicted. The Russian entrepreneur also alerted that the restrictive policy would hinder blockchain development. In a Telegram post, Durov stated:

No developed country bans cryptocurrencies. Reason: such a ban will inevitably slow down the development of blockchain technologies in general. These technologies improve the efficiency and safety of many human activities, from finance to arts.

Durov emphasized that solutions based on distributed ledgers, and using cryptocurrencies as units of account, are replacing what he described as “the obsolete centralized financial systems of the second half of the 20th century.”

He pointed out that Russia’s neighbors, from Ukraine to Uzbekistan, are following in the footsteps of developed nations and adopting progressive laws for the blockchain space as they don’t want to remain on the sidelines of technological and economic progress.

This past Thursday, the CBR published a consultation paper detailing its comprehensive view on the future of cryptocurrencies in Russia. The regulator proposed the prohibition of a wide range of crypto operations, including the free circulation, exchange, and mining of digital coins.

No Developed Nation Bans Cryptocurrencies, Telegram Founder Pavel Durov Warns Russia

Russia is now one of the leaders in terms of number of highly qualified specialists in the blockchain industry, Pavel Durov noted. “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,” he elaborated.

Durov acknowledged that any financial authority would naturally want to regulate the circulation of cryptocurrencies. However, he also warned that a total ban, such as the one recommended by the Central Bank of Russia, is unlikely to stop unscrupulous players while it threatens to put an end to legitimate Russian crypto projects.

Source link

You might also like

G7 Countries Crypto

G7 Countries, EU Taking Measures to Prevent Crypto Use to Evade Sanctions

March 5, 2022
Coinbase CEO Russians Crypto

Coinbase CEO Says Ordinary Russians Use Crypto as a Lifeline as the Ruble Collapses

March 5, 2022

Related News

G7 Countries Crypto

G7 Countries, EU Taking Measures to Prevent Crypto Use to Evade Sanctions

by Editorial Team
March 5, 2022
1

G7 countries and the European Union are examining ways to stop the use of cryptocurrency by Russia to evade sanctions....

Coinbase CEO Russians Crypto

Coinbase CEO Says Ordinary Russians Use Crypto as a Lifeline as the Ruble Collapses

by Editorial Team
March 5, 2022
1

The CEO of the Nasdaq-listed crypto exchange Coinbase says ordinary Russians are using cryptocurrency as a lifeline now that their...

Bitcoin Mining Difficulty Drops

Bitcoin Miners Catch a Break as Mining Difficulty Drops for the First Time in 3 Months

by Editorial Team
March 5, 2022
1

Bitcoin miners got a small break on March 3, after the network’s mining difficulty shifted downward for the first time...

Arbitrum Treasure DAO hack

Attacker Hacks Arbitrum’s Treasure DAO for Over 100 NFTs by Leveraging Marketplace Exploit

by Editorial Team
March 5, 2022
1

A non-fungible token market platform built on top of Arbitrum called Treasure DAO was hacked on March 3 at 7:33...

Next Post
bitcoin news

Illiquid supply 'going up relentlessly' — 5 things to watch in Bitcoin this week

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get daily news updates to your inbox!

Popular

  • crypto price analysis

    BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX

    21678 shares
    Share 8671 Tweet 5420
  • Google Launches Blockchain Division

    5331 shares
    Share 2131 Tweet 1332
  • Microsoft Reveals Activision Purchase for $68.7 Billion as an Approach to the Metaverse

    972 shares
    Share 389 Tweet 243
  • GAIMIN Brings Blockchain and NFTs to Minecraft – Press release Bitcoin News

    957 shares
    Share 383 Tweet 239
  • Coinbase exec says major Ethereum scaling improvements coming soon

    923 shares
    Share 369 Tweet 231

Recommended

What’s Beef? Reviewing The Historic Battle Of Ethereum vs. Cardano

What’s Beef? Reviewing The Historic Battle Of Ethereum vs. Cardano

January 11, 2022
nft news

Chainalysis report finds most NFT wash traders unprofitable

February 7, 2022
Newblock

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Navigate Site

  • Blockchain news
  • Crypto Analysis
  • Ranking
  • Media Partnerships
  • Privacy Center
  • Contact Us
  • Donate

Follow Us

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Cardano
    • Solana
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
  • Buy Crypto
  • Privacy Center
  • Contact Us
  • Donate

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.