Russian Deputy Finance Minister Ivan Chebeskov proposed to develop the country's economy with the help of cryptocurrencies.
Speaking at the Crypto Summit conference on virtual currencies, Chebeskov said that digital assets can benefit the state, so their turnover should be regulated taking into account the interests of market participants. In this regard, Ivan took the initiative to create a unified strategy for the development of the industry, which includes:
• Digital financial assets, which are tokenized assets, such as precious metals and securities;
• Digital ruble, developed by the Bank of Russia;
• Private cryptocurrencies (apparently, bitcoin, ethereum and other coins issued in decentralized and centralized blockchains).
According to Ivan, the trading volume of digital financial assets (CFAs) has reached ₽1 trillion, and this figure may increase several times if the government creates favorable conditions. In particular, he advocates increasing the level of interoperability of platforms for the purchase and sale of these assets to eliminate the problem of market fragmentation.
Ivan Chebeskov
Among the CFAs presented in Russia were products based on cryptocurrencies, for example, CFAs for a basket of bitcoin and ethereum on the Sberbank site. With this tool, the bank's clients can invest in BTC and ETH without buying coins. The problem is that only qualified investors are allowed to invest money in the vast majority of CFAs, so they are inaccessible to most Russians.