Russians Set to ‘Turn to Crypto En Masse’
A Russian professor has claimed that “mass” crypto adoption is on its way in the country – with interest in digital versions of the Chinese yuan and the ruble also spiking.
Per V1, the crypto forecast was delivered by Igor Belskikh, a Doctor of Economics, and Professor at the Department of Economics and Finance at the Plekhanov Russian University of Economics.
Belskikh stated that crypto is already “gaining more and more popularity” in Russia. He noted that crypto had become a tool that allowed Russians to – for instance – “transfer” funds abroad without having to make declarations to the government.
He stated that crypto’s recent “popularity” was “associated with the ability to quickly transfer money across borders without paying foreign exchange fees or tax payments.”
He noted that customs officials were largely powerless to “take coins away from migrants.” And he stated that these were the reasons why “everyone” was now “running” to crypto.
Belskikh added that “cryptocurrencies may become the most massive hobby for Russians in the years to come.”
The professor added that “thousands of Russians” had already made use of crypto as a discreet tool in currency exchanges. He noted that they used rubles to “purchase cryptocurrencies,” and “when they arrived in other countries, they simply convert it into in local national currencies.”
He added that Russians have used crypto in this manner to “buy real estate, stocks, and bonds,” as well as “to pay for education.”
The professor claimed that governments in Russia and elsewhere were far behind investors, meaning that it is relatively easy for crypto users to keep their coin holdings – and usage – private.
Crypto, Belskikh concluded, has “come to “our world” “in earnest” and “forever.”
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