Vitaly Gumirov comments on Russia’s banking sector and crypto industry

A recent issue of Expert magazine contains an article about the current state of banking business in Russia, which touches upon the topics of blockchain and crypto currency regulation.

Vitaly Gumirov, the co-founder of KIRIK project argues:

“In the banking sector, of course, the situation is restless — constant pressure and continuous cleaning by the Central Bank, the instability of Top Ten players, and the absence of logic on the part of the Deposit Insurance Agency, which is filing lawsuits against former depositors of collapsed banks. Against this backdrop, it seems that people are intentionally pushed toward “crypto”. Today, if you have a small amount of money — say, ten thousand dollars — then you are not interesting to anyone as an investor, but with the advent of the crypto industry and ICO, if you have even a thousand rubles, you are welcome to invest”.