CEOs of top Russian banks Sberbank and VTB blast Bitcoin
Top Russian bankers cite their reasons for not liking Bitcoin after Tinkoff's CEO said that the central bank was stopping it from offering crypto trading services. Sberbank and VTB, the two biggest banks in Russia, are not willing to move into the cryptocurrency market in the near future as their CEOs believe that crypto is either too risky or fake money.Sberbank CEO Herman Gref said that cryptocurrencies like Bitcoin (BTC) are probably the riskiest type of investment alongside the equity market. In a Thursday interview with local TV channel NTV, Gref claimed that a banking deposit is the....
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With new legislation on digital assets coming into effect in a month, Russian financial institutions are looking to act. With a new law coming into effect in Russian, the country's largest bank is planning a new blockchain platform for trading, as well as a native token.According to a Monday report from Russian business news outlet RBC, Sberbank is planning to jump into crypto come 2021 when a new law "On Digital Financial Assets," or DFA, is set to come into effect. The news came from Herman Gref, the CEO and chairman of Sberbank. With over 96 million clients, the state-owned bank is the....