Russian tech and political figures are against crypto ban

Russian tech and political figures are against the crypto ban imposed by Russians authorities. Let’s find more about this.

Introduction

Russia is looking forward to enforce a ban on Cryptocurrencies. Naturally, this idea received firm criticism from various influential people from Russia.

Pavel Durov, Telegram’s CEO

Pavel Durov, Telegram’s CEO and Founder

Among the people criticism the ban was popular messaging app, Telegram’s CEO Pavel Durov. He said that the ban would “destroy a number of sectors of the high-tech economy.”

He added that “Such a ban will inevitably slow down the development of blockchain technologies in general. Also, these technologies improve the efficiency and safety of many human activities, from finance to the arts.”

The desire to Regulate Cryptocurrencies

The CEO further assured that the desire to Regulate these Cryptocurrencies is normal. He further said that the “desire to regulate the circulation of cryptocurrencies is natural on the part of any financial authority.”

However, he knows the nature of Cryptocurrencies and said “such a ban is unlikely to stop unscrupulous players, but it will put an end to legal Russian projects in this area.”

Alexei Navalny, The leader of opposition in Russia

Alexei Navalny, The leader of opposition in Russia

The Russian opposition leader, lawyer, and anti-corruption activist, Alexei Navalny is also against the ban. Leonid Volkov, the chief of staff of Navalny, in a Telegram Post said that, “Technically, banning cryptocurrency is the same as banning person-to-person transfers (i.e. it’s impossible)… Yes, they can make it very difficult to deposit funds on crypto exchanges, which means that intermediary services will simply appear that will do this through foreign jurisdictions. Yes, transaction costs will rise. Well, that’s all, I guess.”

It is worth noting that Navalny is the modern symbol of national resistance against authoritarian regimes. He is the founder of The Anti Corruption Foundation (FBK) and also the leader of opposition in Russia.

Surprisingly, Navalny survived an assassination attempt in August 2020. He was poisoned with a really powerful nerve agent developed by Russian scientists and used by trained spies called as Novichok.

Bravely, he survived and after recovering in Germany for a few days, he returned to Russia in 2021. Immediately after his return, he was arrested by the authorities and is in prison since then.

Conclusion

Russian tech and political figures are against the crypto ban by the Russian authorities. It’s hard to resist a really strong and powerful authoritarian regime. However, these influential individuals gave their opinion on this issue.

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