Head of Russia’s Top Bank: the State Will Keep ‘Centralized Role’ in Money Emiss

[ChixHunter]

The CEO of Russia’s largest state bank Sberbank, Herman Gref said he could not yet foresee governments “yielding their centralized role” in fiat currency creation as part of his comments on cryptocurrency.

Speaking to reporters during the Astana Finance Days international conference in the Kazakhstan capital July 4, Sberbank’s Herman Gref repeated the comments he has made “many times” about cryptoassets’ future role in the economy.

“Do I see a prospect of global use of cryptocurrencies as an alternative to fiat money? I don’t see it and I said it many times,” he said.

Gref’s words broadly reflect the ongoing metamorphosis of cryptocurrency’s regulatory status within Russia. This week sees the deadline for new legislation becoming law which cements cryptocurrency as a separate class of asset devoid of the status of legal tender.

Sberbank has nonetheless begun increasing its crypto interaction in the run-up to the new regulated era, revealing its plans to launch a crypto-based investment fund last month.

A week prior, Gref had nonetheless come out bearish, telling local news outlet Kommersant he “wouldn’t recommend [buying cryptocurrency] to anyone who does not like playing at a casino.”

Readmore: https://cointelegraph.com/news/head-of-russia-s-top-bank-the-state-will-keep-centralized-role-in-money-emission

[averyasha05]

Somewhere in the news, I read that Herman Gref admitted that he has some bitcoins.

[Alcor]

As far as I remember, earlier German Gref stated that Sberbank of Russia is going to issue its own crypto currency even before the State Duma passed the laws on the crypto currency.
If Russia recognizes the crypto currency as a special asset deprived of the status of a legitimate means of payment, and will set a number of restrictions for it, as they plan, including the right to deal with the crypto currency only to certain categories of citizens, then the crypto currency will be strangled in Russia and will have to switch to illegal position. This is very bad.

[emma.lee1890]

Somewhere in the news, I read that Herman Gref admitted that he has some bitcoins.

Bitcoin will see wide global adoption as a fiat alternative due to states’ desire to keep money centralized

[emma.lee1890]

As far as I remember, earlier German Gref stated that Sberbank of Russia is going to issue its own crypto currency even before the State Duma passed the laws on the crypto currency.
If Russia recognizes the crypto currency as a special asset deprived of the status of a legitimate means of payment, and will set a number of restrictions for it, as they plan, including the right to deal with the crypto currency only to certain categories of citizens, then the crypto currency will be strangled in Russia and will have to switch to illegal position. This is very bad.

Herman Gref repeated the comments he has made “many times” about cryptoassets’ future role in the economy.