Law and LegislationNEWS

Russia’s Largest Bank Chief Does not Approve of Cryptocurrency Ban

russia ban bitcoin

Russia’s largest bank, Sberbank CEO Herman Gref, thinks that cryptocurrencies should not be banned.

The banker went a step further, stressing that cryptocurrencies are yet to be understood and any regulation should be measured and considered, not reactionary.

“Before trying to regulate it, it is necessary to maintain a normal background around the blockchain technology and cryptocurrency,” Gref said. “It is necessary to explain to people that it does not store value, but right now is rather a very dangerous thing, like a lottery or a casino,” he added, presumably referencing the soaring rise in adoption, among retail investors & everyday citizens, and value of cryptocurrencies in 2017.

Gref adds:

“It [cryptocurrencies] should not be banned, as it is a great new technology in development, which no one is yet to comprehend”.

Adrian Mathieu
About author

Adrian is a cryptocurrency trader and writer since 2014. He follows closely coins such as Bitcoin, Ethereum and NEO to little known ICOs, constantly analyzing crypto markets in order to stay informed. Email Adrian directly at [email protected]
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