American experts believe that the Russian Central Bank can not only stabilize the course of Bitcoin , but also make good money on it.
In the publication on the pages of the publication Investment Week, the British financier, founder and general director of the Carlton James Group, Simon Calton, said that if the dollar is abandoned, Russia has prospects to make billions from cryptocurrencies.
Calton drew attention to the fact that in recent years the Russian regulator has been pursuing a policy aimed at reducing the dependence of the country's financial system on the US dollar. There is also talk that in the near future, Moscow may rely on cryptocurrencies .
Calton writes :
“The Central Bank of Russia managed to form a record high reserve of $ 462.1 billion. Accumulated funds can be an effective tool to protect the Russian economy from geopolitical risks. ”
The Russian Central Bank seeks to diversify reserves by acquiring gold and foreign currencies other than the US dollar. According to Calton, there is a high probability that Moscow can pay attention to cryptocurrencies, in particular, to Bitcoin.
Despite the decline in the price of Bitcoin in 2018 (its total value fell from $ 230.9 billion to $ 66.6 billion by the end of the year), if Russia risks investing in these assets, this can change the rules of the game. The British financier believes that the Russian Central Bank can not only stabilize the cryptocurrency rate, but also make good money on it:
"If Russia fulfills its investment plans, the Central Bank of the Russian Federation will receive one-sixth of all bitcoins, which ultimately will significantly increase the value of this digital asset."
Thus, Russia can earn billions on cryptocurrency investments. However, at the moment it is difficult to determine how much interest the Bank of Russia has in these assets.
At the same time, Simon Calton admits that today the leading world powers are cautious about investing in cryptocurrencies: they are scared away by the high volatility of these financial instruments, which are not tied to tangible assets that determine the base value of traditional currencies. In this regard, the course of Bitcoin is subject to sharp fluctuations.
However, Calton believes, the attitude to cryptocurrencies may change. The blockchain technology expands the horizons of classic financial technologies. But, as in the case of any investment or financial instrument, it is necessary to act very carefully and carefully.
Recall that earlier, Prime Minister Dmitry Medvedev explained that “dedollarization” does not mean a complete rejection of the dollar or a ban on the circulation of the American currency. The prime minister said that “a country should focus on its national currency.”
As for the prospects of cryptocurrency in Russia, they are clearly ambiguous. The steps made in this direction, and the statements of Russian lawmakers are evaluated by observers as halfway and ambiguous. For example, last year, the chairman of the State Duma’s Financial Market Committee, Anatoly Aksakov, said that cryptocurrency would allow investors to invest in the Crimea without fear of violating the prohibitions.
The economic integration of the region into the Russian Federation and the diplomatic consequences of its accession are costly. In addition to government subsidies, the autonomous republic needs fresh investment, but international sanctions have stood in the way of foreign capital. Commenting on the prospects for solving this problem using cryptocurrency, A. Aksakov said:
“Having this tool (cryptocurrency) in the future, when we get approval, we expect to be able to attract people who are afraid to invest in Crimea directly. They will be able to finance projects that promise good profits through an encrypted scheme. ”
Also, at present, Russia is working on creating cryptocurrency offshore zones – in Kaliningrad and in the Primorsky Territory in the Far East.
Another possible application cryptocurrency – trade from abroad. Last year, TASS quoted the words of the First Deputy Chairman of the State Duma Committee on Economic Policy, Industry, Innovative Development and Entrepreneurship, Vladimir Gutenyov, who said that the United States “crossed the red line” and Moscow should think about an “asymmetric response”.
Gutenev sees such a response in the use of cryptocurrency in Russian exports of military and civilian products, the trade in which is likely to affect more and more new US sanctions.
However, all of the above are only plans and opportunities, the realization of which is hampered by the absence in the country of a legal framework for cryptocurrency turnover.
Recall, recently it became known that in Russia they want to introduce a limit on the purchase of cryptoactive assets by the population. The Central Bank of the Russian Federation, in a draft directive to the draft law on digital financial assets (CFA), included a proposal to limit the possibilities for crypto assets to be purchased by unqualified investors.
It is expected that the Central Bank will set the maximum allowable amount per year, and the operators of the tokens issuing systems will exchange customer data to prevent the limit from being exceeded.
Publication date 17.03.2019
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