Herman Gref: cryptocurrencies “should not be banned under any circumstances”

The Gaidar Forum is currently being held in Russia. It is an annual event where serious Russian market actors and state regulators often visit. The head of Sberbank, one of the biggest Russian banks backed by the government, has stated on this forum today that the cryptocurrency ban would cost dearly for the country.

According to him, cryptocurrency is underlied by a giant technology the possibilities of which cannot be grasped by anyone yet. But the head of Sberbank does not recommend to use cryptocurrency as a means of accumulation and calls digital currencies a lottery - although he downplayed this by saying the situation might change in the future.

“Tell me, when the first car arrived on the streets of New York, London and Moscow, did we all have the traffic regulations? There should be no haste here. We need to sustain a normal background when it comes to blockchain technologies and cryptocurrencies”, Herman Gref stated.

Meanwhile, amidst the news from China and possibly, due to other factors, Bitcoin has plunged by 25%, which to serious investors looks only like that this market is immature. But the Saxo Bank analyst has noted that this is a correction perfectly healthy for this market. His opinion on what happens to Bitcoin next can be read in a separate news message by Bitnewstoday.