Durov: Russia planned cryptocurrency ban to lead to IT brain drain

MOSCOW, Jan 24 (PRIME) -- Russia’s possible cryptocurrency turnover ban would result in an outflow of IT specialists from the country, messenger Telegram founder Pavel Durov said on January 22.

“Prohibition of cryptocurrencies suggested by the Central Bank of Russia will lead to an outflow of IT specialists from the country and ruin several high-technology industries,” Durov said on his Telegram channel.

No developed country bans cryptocurrencies because it will unavoidably slow down the progress of blockchain technologies, which improve effectiveness and safety of many types of human activities from finance to arts, he said.

Russia’s neighbors, “from Ukraine to Uzbekistan” adopt advanced blockchain laws following the developed countries, Durov added.

The central bank wants to ban turnover and mining of cryptocurrencies, while ownership is not forbidden.

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