Sber Board Chairman German Gref said that cryptocurrencies should not be a means of payment in Russia, but stablecoins should not be banned either.
In an interview with journalists, Gref commented on the discussion between the government and the Bank of Russia on the issue of cryptocurrency regulation in the country. He emphasized that it is necessary to be very careful when regulating unique technologies, since ill-conceived decisions can lead to business moving to other jurisdictions and the loss of strategic competencies.
“I support the circulation of cryptocurrency as a means of payment, its ban on the territory of the country. But in no case should any derivatives, such things as stablecoins, be banned,” Gref said.
In his opinion, investments in crypto assets should not be prohibited, but private investors should be explained in detail what high risks and losses they expect when investing in very volatile instruments.
“But if a person is aware of everything and goes to invest, why should he forbid it? We don’t ban casinos. And then, investments in the shares of a number of companies are no less risky today than investments in cryptocurrencies,” Gref emphasized.
Recall that the positions of the government and the Bank of Russia differ not only in their approach to regulating the industry, but also in assessing the volume of the cryptocurrency market. According to the Central Bank, it is $5 billion, and the government – $64 billion.
Source: Bits
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