Russia and Kazakhstan ready to cooperate with cryptocurrency industry, says Lennix Lai from OKEx

This year there are a lot of cryptocurrency and blockchain-related discussions taking place at the World Economic Forum. Unlike the previous years, the participants note a significantly higher interest towards the industry, blockchain-based solutions and the idea of decentralized digital money. May high profile figures including  founder of ConsenSys and co-founder of Ethereum Joe Lubin and Joanne Po, CEO at SEBA Bank, are set to share their views.

Lennix Lai, Financial Markets Director at OKEx made an exclusive commentary for the FXStreet:
"This year, Davos is holding a lot more crypto-related events than I expected - which is exciting and surprising to us. I have participated in a panel discussion held by Russia House, where the officials of both the Russian and Kazakhstan governments endorsed asset-back crypto tokens and mining. They also expressed their willingness to work with industry players to further enhance a decentralized ecosystem. As a leading crypto exchange, we are looking forward to engaging and partnering with governments in shaping a robust and trustworthy environment for crypto users."

Many governments and regulators have softened their stance towards cryptocurrency assets. They moved through stages of ignore and restrictions to a more measured approach. They are looking into benefits of the technologies behind the cryptocurrencies and explore the ways they can be used. Russia and Kazakhstan may bbe ready to join the ranks of crypto-friendly countries to foster innovation and move on to digital economy.

Thus, the Bank for International Settlements with a vast group of global central banks, including, Bank of England, Bank of Japan, Bank of Canada among others, set up a task force to explore  potential use cases for central bank issued digital currencies (CBDC) and share their experience in dealing with this type of asset in their respective jurisdictions

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Breaking: PayPal enables buying and selling of cryptocurrencies in 2021

PayPal will offer the ability to shop using cryptocurrencies like BTC, ETH, BCH, and LTC starting in early 2021 in more than 26 million merchants around the world. Customers will also be able to purchase cryptocurrencies directly through PayPal.

More Bitcoin News

Dash Price Analysis: DASH explodes after bouncing up from 50-day SMA

After crossing the $100-barrier on August 7, DASH fell to $6.50 on September 23. Since then, the privacy coin has gone up to $75.50, as of writing. Dash had earlier jumped from $67.30 to $75 this Monday before facing rejection at ...

More Dash news

XRP approaches a critical resistance level that could push it 15%

It seemed that XRP was left behind as Bitcoin continued climbing towards and above $12,000. However, in the past 24 hours, the digital asset has risen from $0.242 to a high of $0.255. 

More Ripple News

EOS Price Prediction: EOS on the cusp of a significant bullish breakout

EOS, like the rest of the market, is heavily bullish and has gained around $120 million in market capitalization over the past 24 hours with $2 billion in trading volume. The digital asset seems ready for ...

More EOS News


Bitcoin: BTC ready to escape from the range; bulls have $12,000 in mind

Bitcoin has been gaining ground amid positive fundamental developments. The flagship cryptocurrency is ready to break free from its current range and proceed with the recovery towards $12,000. 

Read the weekly forecast