Russian billionaire shared his experience of using cryptocurrencies at the Kommersant Publishing House conference

On February 25, the annual conference of the Publishing House «Kommersant» about cryptocurrencies and blockchain. In 2021the event was held online.The main topic of the conference was legislative and market innovations in the field of cryptocurrencies both in the world and in Russia, where the law «On Digital Financial Assets» came into force in 2021. The event participants discussed the policy of the Russian regulator regarding the circulation of digital assets, and also spoke about their experience in creating online services and offline products working with cryptocurrencies.

The speakers of the conference wereChairman of the State Duma Financial Market Committee Anatoly Aksakov, Founder of the Garantex crypto exchange and CEO of InDeFi Sergey Mendeleev, President of the Russian Association of Cryptoindustry and Blockchain (RACIB) Yuri Pripachkin, CEO of CoinsPaid Maxim Krupyshev, Head of the RD RF interdepartmental group for assessing the risks of a billion cryptocurrency turnover, Elina and the founder of the Independent Decentralized Finance Ecosystem (InDeFi) Alexander Lebedev.

«The [Digital Financial Assets] Law wasaims to more actively use blockchain technology to issue digital financial assets and with their help attract investments and funds to ensure economic turnover using the blockchain», — noted Aksakov, who was the first to take the floor during the online conference.

According to him, several companies have already submittedapplications for registration of their digital assets. Among these companies, he mentioned Sberbank and its stablecoin issuance project, and also emphasized that all assets for which registration applications were received are backed with values.

«Adoption of cryptocurrency legislation — this is a step in the right direction, — Lebedev believes. — But there is still a lot of work ahead.

He said that cryptocurrencies turned out to be the most convenient payment method for him, which is devoid of the barriers and drawbacks of the traditional financial system.

«I decided to invest $100,000 in a small hotelon Bali. I myself took part in choosing the location; it will stand on one of the rocks. But I was faced with the fact that I had to transfer this money to a resident of the Russian Federation who lives in Indonesia. And I'm tired of doing it! As a result, I contacted the Garantex exchange, and literally three seconds later the money was in my account in Bali. My counterparty withdrew this money, paid a commission to the bank and paid cash to the seller. Once again — I'm talking about my money, which is in a Russian bank and taxes have been paid on it.

According to Lebedev, this story demonstrates how blockchain helps entrepreneurs to cope with problems related to compliance, correspondent accounts, transaction costs:

«The hotel will be ready in the fall, and I will already receive income from this investment».

 

«The crypto industry continues to develop.If earlier the purchase of cryptocurrencies was a complex and expensive process, then in recent years the infrastructure of the crypto world has been replenished with convenient, easy-to-use, truly user-friendly services», — Sergei Mendeleev explained after the event.

 

«Now buying cryptocurrency is becomingas simple as any other payment for any other product or service on the Internet. The market has improved, fraudulent and gray exchangers are leaving, and reliable companies are replacing them.

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: Press release