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Cryptocurrency

21% of Muscovites think crypto and digital currencies will replace fiat in ten years

April 28, 2021. Summarized by summa-bot.

Compression ratio: 42%. 1 min read.

A recent poll found that 34% of North-Western Russian residents think that crypto cannot replace fiat currency in anything.

New research from one of the top 10 major banks in Russia, Otkritie Bank, has found that 14% of Russians think crypto will replace fiat in 10 years.

But in Moscow, there appears to be more optimism towards crypto, with 21% of respondents believing that cash will be replaced by crypto and digital currency in the next decade.

Cointelegraph reported in March that the Bank of Russia expects a digital prototype of the Digital Ruble to be finalized by the end of 2021.

It was also found that 46% of respondents believe that people should have the opportunity to choose if they use crypto or cash.

Earlier this month, a group of Russian lobbyists led by law firm Digital Rights Center launched the “Public initiative of the crypto community in Russia” campaign.

According to the lobby group, Russia’s existing laws such the prohibition of using crypto as a form of a payment, and issuing three-year jail terms for failure to report one’s holdings slows down “the development of the distributed finance market. ”

by summa-bot

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