Russia’s Economy Will Experience Positive Effect With Huobi, According to President Putin’s Advisor

Russia’s Economy Will Experience Positive Effect With Huobi, According to President Putin’s Advisor

September 24, 2018 Off By Maheen Hernandez

Russia has a relatively negative opinion pertaining to cryptocurrencies. Still, the country looks forward to the positive effect of working together with Houbi, according to the advisor of President Putin. The advisor recently met with the Founder and CEO of Huobi to discuss a possibility of the two working together.

On the meeting between President Putin’s advisor and the funder of Houbi, the two discussed several topics including cryptocurrencies and blockchain technology. There was also discussion of Huobi’s possible expansion in the country. Russia’s stake in cryptocurrency is considered negative.  However, the presidential advisor has always been vocal of his support for crypto and blockchain technology.

He firmly believes that blockchain can support Russia’s affairs. Moreover, he believes that it can have the ability to fight not only financial fraud. The Presidential advisor has firm conviction that blockchain technology can combat corruption. The recent news of President Putin’s advisor meeting with Huobi’s CEO, however, seems to contradict the recent report that digital development can’t be possible right now for the country.

The recent also contradicted the country’s previous policy pertaining to cryptocurrency. It was not long ago when Russian authorities seized 22 BTC ATMs when the country’s opinion about digital currency is made known. It also was not long ago when a regulatory amendment for tighter rules regarding crypto transactions was made.

Due to suspicions concerning terror financing as well as financial fraud, Russia is wary of cryptocurrency. On that note, the country opted to track the transactions of digital currencies within its borders. Seeing this, it does not seem to fall in line with the belief of cryptocurrency proponents that crypto can help combat financial fraud and similar problems.

Russia does not seem to be warm to the adoption of cryptocurrency like most of the world. However, Presidential Advisor Sergey Glazyev says otherwise. According to advisor Glazyev, the crypto industry is still young, growing and expansion to an unprecedented rate with countries around the world trying to get their hands on the advantages and opportunities it can offer.

With that, he is hoping for Huobi Group to lead the digital currency market in Russia. If did set a good example, Advisor Glazyev sees that it will support the progress of Russia’s economy. On that, Advisor Glazyev says, “I believe this is a great opportunity to explore this area.” The Presidential advisor is looking forward to the kind of future that Huobi will bring in Russia’s economic landscape.

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