The president of the Russian Association of Cryptoindustry and Blockchain (RACIB) Yuri Pripachkin said in an interview to local news media Vedomosti that the central bank of Russia misunderstands the situation in the cryptocurrency market and puts crypto companies on pressure rather than helping them, according to the report of Vedomosti.
Yuri Pripachkin also pointed out that the aspiration of the regulator to establish total control over cryptocurrency field will only lead to an increased administrative pressure on blockchain sector and will stop its further development.
The president of RACIB believes that the fall of cryptocurrency prices will not undermine the whole crypto market and will not lead to the bitcoin collapse. On the other hand, it will promote the recovery of blockchain industry,
RACIB is a Russian based association of developers, blockchain technology users, and products based on its basis, for the development of the digital economy that was established at the beginning of 2017 in order to promote blockchain within the country.
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