A Russian economist believes that central banks will ultimately determine the fate of crypto, even if they are not currently “prioritizing” their regulation of the sector.
Nikita Maslennikov, of the Center for Political Technologies, believes that Russia’s economic woes are largely due to the country’s dependency on oil and gas exports.
Nikita Maslennikov, of the Center for Political Technologies, believes that Russia’s economic woes are largely due to the country’s dependency on oil and gas exports. He also points to the government’s lack of investment in other industries as a key factor in the country’s current state.
An economist speaking at the Crypto Finance Conference in Switzerland stated that the future of crypto is “rather uncertain.” Much will depend on the extent to which the market is regulated, he said.
Maslennikov proposed that crypto regulation had become a pressing issue in many countries. However, he said that central banks “do not consider” crypto regulation to be a top priority.
The expert noted that Russia and China have contrasting stances on crypto. While China has banned most crypto-related activities, Russia’s Central Bank proposes a blanket ban – although other government organs take a more progressive approach.
Cryptocurrency will not be wiped out, regardless of central bankers’ actions, according to Maslennikov. He believes that people’s appetite for risk and speculation will ensure that crypto’s survival in some form. However, he admits that the future of cryptocurrency is uncertain.
The economist said that central banks are in no hurry, but that firmer future regulation is an inevitability.
Maslennikov believes that it is very hard to predict the actions of central bankers in the crypto world. However, he says that the regulation of crypto is now in progress all over the world.