Russia on Brink of Mass Crypto Adoption – Professor

• A Russian professor has claimed that “mass” crypto adoption is on its way in the country.
• Igor Belskikh, a Doctor of Economics, and Professor at the Department of Economics and Finance at the Plekhanov Russian University of Economics, noted that crypto had become a tool that allowed Russians to transfer funds abroad without having to make declarations to the government.
• He noted that crypto’s recent “popularity” was “associated with the ability to quickly transfer money across borders without paying foreign exchange fees or tax payments.”

Recent developments from Russia suggest that the country is set to embark on a new wave of cryptocurrency adoption. Igor Belskikh, a Doctor of Economics and Professor of Economics and Finance at the Plekhanov Russian University of Economics, has suggested that the nation is on the brink of mass adoption of cryptocurrency.

The professor noted that crypto has become increasingly popular in Russia due to its ability to quickly move money over borders without incurring any foreign exchange fees or taxes. This has also made it a popular choice for those looking to discreetly move funds abroad. Belskikh believes that the ease of crypto use makes it an attractive option to Russians, and that it could become a popular hobby in the years to come.

He further suggested that crypto users have already taken advantage of this new form of currency, by using rubles to purchase cryptocurrencies and then easily converting them to local currencies when they travel abroad. This is being used for a variety of purposes, such as buying real estate, stocks, bonds, and even for paying for education.

The professor also noted that, due to the nature of crypto, it is relatively easy for users to keep their coin holdings and usage private. This, he believes, gives governments little power to stop crypto use.

Overall, it appears that Russia is on the brink of a new era of crypto adoption. With its ability to quickly and discreetly transfer funds, crypto is becoming a popular choice for Russian citizens and it may become the nation’s new favorite hobby. It is yet to be seen if this mass adoption will have a positive or negative impact on the country’s economy, but the future of cryptocurrency in Russia looks bright.

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