Russian patriots ask to ban cryptocoins

Representatives of Russian business community believe that only national currencies controlled by state should exist
16 October 2017   571

Entrepreneurs association "Avanti" promotes a so-called business patriotism. On their website they state that their goal is to unite entrepreneurs in the real sector of Russian economy in order to promote the development of a free competitive market, domestic production, a fair and efficient social market system and business patriotism supporting interest of the Russian Federation.

“Avanti” suggests to legislatively establish the use of only domestic crypto-currency, a so-called cryptoruble, which has not yet been released.

In their letter to the Federation Council and the State Duma, the representatives of the organisation state that the anonymity of transactions while using foreign crypto-currency can become a source of financing shadow economy, which can lead to negative consequences for the political and economic development of the Russian Federation.

Those processes stimulate development of not only shadow economy but they are capable of generating new forms of "universal evil", such as terrorism, human and drug traffic. 
 

Rahman Yansukov
Head, Avanti

Cryptoruble became the issue under discussion after Russian president spoke about the need to create a national crypto currency, and the Minister of Communications emphasized its parameters such as:

  • it is to be created using Russian cryptography
  • it is not to be mined
  • the issue is to be regulated by the state
  • the blockchain is to be closed

It’s not the first time when entrepreneurs association "Avanti" plays upon the feeling of patriotism.

Suggested rubles
Suggested rubles

In August of 2017, the association proposed to release of a limited series of 10,000 ruble banknotes with the image of President Vladimir Putin, trying to inspire a patriotic opposition to sanctions, but this idea was never implemented.

Binance to Launch Crypto-Fiat Exchange at Jersey

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs
16 January 2019   72

Binance has opened a branch at Jersey island, targeting Europe and the UK. Its clients will be able to trade Bitcoin and Ethereum for the euro and the British pound. 

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs. To start trading, users must undergo KYC verification.

According to Binance CFO Ju Wei, bidding cryptocurrencies for fiat money will provide Europeans with new opportunities in the face of uncertainty with Brexit affecting the euro and the pound.

Wei also stressed that a strong legal framework makes Jersey one of the leaders in the development of blockchain technology.