According to a top manager at one of Russia's largest banks, cryptocurrencies have become a mature segment of the financial market, and it's hard to ignore:
"Crypto is everywhere. There's huge demand, and it can't be ignored. The volume of cryptocurrency transactions by active crypto investors, according to various estimates, reaches $180 billion."
The managing director of Alfa Bank did not disclose the source of this information. However, he added that the government must "harness and develop" this trend to prevent Russia from falling behind other countries and from missing out on the technological opportunities and advantages of using digital assets.
According to Verkhoshinsky, the main task now is to create transparent and understandable rules for market participants to stimulate investment and accelerate the development of the cryptocurrency market, which has the potential to become a "powerful driver of financial technology."
Earlier, Vladimir Chistyukhin, First Deputy Chairman of the Bank of Russia, urged traders to exercise caution when choosing financial instruments related to digital assets. The Central Bank wants to protect stock speculators from losses caused by crypto market volatility.