Veaceslav Negruța: Production of cryptocurrency in Transnistria exerts pressure on leu

The production of cryptocurrency in the Transnistrian region exerts pressure on the national currency of the Republic of Moldova, stated Transparency International Moldova expert Veaceslav Negruță. According to him, the National Bank of Moldova should provide more relevant information given that the leu does not circulate in the Transnistrian region and this is a problem, IPN reports.

“In this case, by cryptocurrency they create additional pressure on the Moldovan leu. For small economies like the Republic of Moldova, such “sucking devices” placed in unknown areas where the law does not work, the risk is that the whole economy could be blocked overnight if the “sucking device” extracts everything on which the economy is based,” the expert stated in the talk show “Black box” on TV8 channel.

According to him, any national currency has economic grounds, either it is about the foreign exchange reserve or about all the goods produced in this economy. The difference between these coins and the virtual ones resides in the fact that behind the virtual coin there are no issuing centers, no rules and guarantees that these investments can be recouped. But the manipulation and panic that can be easily induced generate increased risk for any such “investments” and “investors”.

Recently, an investigation conducted by the Journalistic Investigations Center showed there are about 10 farms for cryptocurrency production in the Transition region.