Sberbank's CEO Says Cryptocurrencies Should not be banned
These days, it is even more important to mention that cryptocurrencies still have numerous supporters. Several authorities and governments from all around the world have previously revealed intentions to regulate the cryptocurrency market or ban several aspects of it.
Herman Gref: Authorities should wait before regulating cryptocurrencies
However, it seems that not everyone agrees with this. For instance, the head of Russian bank Sberbank, Herman Gref, said that cryptocurrencies should not be banned. This is not the first time when Gref expresses such a position, saying that authorities should wait a bit before regulating cryptocurrencies.
Initially, Russian authorities did not have such a positive reaction to cryptocurrencies. However, it seems that they gradually changed their mind and adopted a more permissive stance related to digital currencies. Russian authorities even showed interest in releasing a national cryptocurrency.
Well, Gref has also asked authorities in Russia to be patient and do not impose any regulations on cryptocurrencies for the moment. Gref said that authorities in Russia should be tolerant when it comes to both cryptocurrencies and blockchain technology. He also claimed that cryptocurrencies are not yet fully understood, this is why regulation should be properly considered.
Gref according to Russian media:
“Before trying to regulate it, it is necessary to maintain a normal background around the blockchain technology and cryptocurrency. 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.”
Gref also expressed his belief that cryptocurrencies are characterized by a unique technology:
“It [crypotocurrencies] should not be banned, as it is a great new technology in development, which no one is yet to comprehend.”
Gref made the first statements regarding the need to adopt a tolerant stance on cryptocurrencies last year, when he opposed a proposed bill to ban bitcoin.
