However, the head of Sberbank supports the Central Bank’s view on banning cryptocurrencies

​Herman Gref urged Russia’s Central Bank not to ban stablecoins

04.02.2022 - 08:40

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1 min

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What’s new? The head of Sberbank, Herman Gref, has spoken out about the cryptocurrency situation in the country. He fully supports the position of the Central Bank and believes that all cryptocurrency transactions should be banned. However, Gref believes that stablecoins can be allowed, RBC reports.

RBC’s material

What else did the head of Sberbank say? Gref added that stablecoins contribute to the development of blockchain technology, which he believes should be studied.

“I support the banning of cryptocurrency as a means of payment in the country. But in no way should any derivatives, such as stablecoins, be banned."

The head of Sberbank also believes that it is no longer possible to prohibit Russians from owning cryptocurrencies, especially after billions have been invested in them. Recall, Bloomberg estimates that Russian investments in cryptocurrency amounted to more than 16,5 trillion Russian rubles. Therefore, Gref suggested periodically reminding citizens of the risks of losing their investments.

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