Russian Billionaire Doubts in Crypto's Future, Says Tokens Can Displace Them
Main page News, Russia, Token, Crypto Market, Regulations

Russia's second-richest man doubts cryptocurrencies are here to stay as regulated tokens can displace those assets without associated risks. In an interview with Bloomberg, Vladimir Potanin said that unlike cryptocurrencies, platforms like Atomyze (backed by Potanin's company Interros) offer consumers "high-quality and secure digital goods and may squeeze unreliable products out from the market." He added:

"Metal coins were replaced by paper money, and then transactions became cashless. Digital financial assets are just the next stage."

Earlier this month, Russia's central bank — the Bank of Russia — listed Atomyze as the first platform in the country that can issue, hodl and trade digital assets. Potanin's comments came after Russia's president Vladimir Putin called the country's central bank and Russian government to reach a consensus on cryptocurrencies regulation.

Russia's Investments in Crypto Tops $200B: Report

Speaking at a meeting with members of the Government, Putin said he does not see that the central bank is staying in the way of technological progress, commenting the recent proposal for a total ban of cryptocurrencies made by the Bank of Russia. He also admitted that Russia has certain competitive advantages in crypto mining, but urged the central bank and the government to come to a consensus in the near future.

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