Russian Bank VTB Head Andrey Kostin Akins Bitcoin Mining To Counterfeiting, Not A Fan Of Crypto Ruble

2019-2-5 22:01

Andrey Kostin The Head Of The Russian Bank VTB Compared Crypto Mining With Counterfeiting

The head of the Russian bank VTB, Andrey Kostin, has compared cryptocurrency mining activities with counterfeiting. The bank is the second largest in the country. The information was released by the Russian news agency TASS on February 4.

During a conversation with students at an educational contest that was organized by the multinational corporation Yandex, he said that he is not a big fan of the crypto ruble, which was going to be the digital asset issued by Russia and linked to the ruble.

About it, he commented:

“I am not a big fan of the crypto ruble. To me, this is a kind of counterfeiting. A person who is mining cryptocurrencies is similar to someone who is printing money. During the initial euphoria, everyone thought that everything can be paid in crypto starting tomorrow, but it hasn’t happened so far.”

He went on saying that the crypto market will be small and also used just by a few individuals. At the same time, he said that the global financial industry is becoming more transparent and offshore holdings are disappearing.

Although there are several regulatory agencies all over the world trying to regulate virtual currencies, Mr. Kostin believes that there is no relevant way to control and regulate digital assets as the traditional market. Additionally, he added that if virtual currencies expand, it can be dangerous.

Olga Dergunova, the board chairman at VTB, does not have the same point of view as Mr. Kosting. She commented that VTB was already ready to work with virtual currencies and that they could eventually be treated in a similar way as fiat currencies in the future.

At the moment, Russia does not have clear regulations related to digital currencies. Even when there is a very large community in the country related to the market. Blockchain technology is also expanding as well. There are several firms that are already using the technology to improve services and products.

Moscow, for example, tested the Ethereum network for the e-voting platform ‘Active Citizens.’ In this platform, Moscow citizens could vote for proposals to improve the city.

Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Top Coin Price Watch (Feb 5th)

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Russian Miner Coin (RMC) на Currencies.ru

$ 675.38 (+0.00%)
Объем 24H $0
Изменеия 24h: -3.31 %, 7d: 8.80 %
Cегодня L: $675.2 - H: $675.38
Капитализация $1.018m Rank 99999
Доступно / Всего 1.507k RMC

russian bank mining andrey vtb head counterfeiting

russian bank → Результатов: 48


Russian Bank Sberbank Uses A Blockchain Smart Contract For A Three-Way OTC Repurchase Agreement

Blockchain technology has recently found a new use case in Russia, after being used to finish a repurchase agreement, which is also known as a repo. Sberbank, the state-owned Russian bank, announced this transaction on Thursday, involved the “world’s first” transaction of this kind includes three parties in an over-the-counter (OTC) agreement with a smart […]

2018-12-8 00:29


Фото:

SEC Investigates Salt Lending’s ICO, Huobi Advises Russian Bank on DLT

In recent regulatory news, the U.S. Securities and Exchange Commission (SEC) has reportedly launched an investigation into Salt Lending’s 2017 initial coin offering. Separately, the SEC revealed that it has stopped accepting public comments on nine bitcoin exchange-traded funds that it rejected in August, and digital asset exchange Huobi has announced that it is providing […] The post SEC Investigates Salt Lending’s ICO, Huobi Advises Russian Bank on DLT appeared first on Bitcoin News.

2018-11-21 15:30


North Dakota Sanctions Fraudulent Russian Cryptocurrency Company

The state of North Dakota recently ordered the shutdown of a fake cryptocurrency website which carried out unregistered and fake securities in the state. Cryptocurrency Website Imitating Union Bank AG According to an official press release by North Dakota, Securities Commissioner, Karen Tyler, issued a cease and desist order against a fake virtual currency company, […] The post North Dakota Sanctions Fraudulent Russian Cryptocurrency Company appeared first on Ethereum World News.

2018-11-21 10:49


New Bank Guarantee to Be Issued on Blockchain from Gaxprom Neft and Raiffeisen Subsidiary

In a report from Kommersant, a Russian business newspaper, the collaborative effort between four different parties will change the way that blockchain is handled. Specifically, the partnership between Gaxprom Neft and Priorbank of Belarus (the Russian subsidiary of Raiffeisen Bank International) are declaring a guarantee on blockchain technology. According to the report, the purpose of […]

2018-11-14 04:58


Russian Cybersecurity Firm Says Hackers Have Stolen $882 Million From Cryptocurrency Exchanges in Almost Two Years

A Russian cybersecurity firm has released reports stating that hackers have stolen $882 million from cryptocurrency exchanges in almost two years. $882 Million and Counting A cybersecurity firm based in Moscow, Group-IB, conducted research which revealed that hackers have stolen up to $882 million from digital currency exchanges.

2018-10-19 10:52


Фото:

Danske Bank’s $235B Money Laundering Tops Entire Cryptocurrency Market Cap

Danske Bank, the Danish lender at the center of a giant Russian money laundering scandal, illegitimately processed more cash than the entire cryptocurrency market cap combined. One Bank, $235 Billion The astonishing figure, noted on social media by Morgan Creek Digital founder and partner Anthony Pompliano this weekend, comes as the true extent of the banking sector’s latest revelation remains unknown.

2018-10-1 16:00


Фото:

Regulations Round-Up: Central Bank-Issued Digital Currencies, Regulatory Clarity

In recent regulatory news, Spain’s Central bank has issued a report favoring the development of a central bank-issued digital currency (CBDC), the president of Taiwan’s central bank has advocated caution regarding CBDCs, the Blockchain Research Institute has published a summary of recent roundtable discussions calling for great regulatory clarity, and a Russian court has a […] The post Regulations Round-Up: Central Bank-Issued Digital Currencies, Regulatory Clarity appeared first on Bitcoin News.

2018-8-12 15:58


Bank of China наращивает инвестиции в блокчейн

Китайский конгломерат Bank of China намерен выделить больше средств на изучение финтех сферы, включая технологию блокчейн. Директор банка по информационным технологиям Лю Цювань отметил,что банк также будет изучать искусственный интеллект, облачные вычисления и большие данные.

2018-8-12 15:51


Фото:

Russia’s Biggest Payments System Qiwi to Open Crypto-Investment Bank

QBT, a daughter company of Russia’s largest electronic payments system Qiwi, announced it will launch the country’s first ever cryptocurrency investment bank.   Russia’s First Cryptocurrency Investment Bank The new company — which will operate under the brand-name HASH — will be registered in Russia, reports Russian news outlet Kommersant.

2018-6-30 05:00


Money Laundering Worries in Lithuania caused by the Roaring Cryptocurrency Market

Now, this intense interest in the country’s virtual currencies space is stoking fears of money laundering from the Russian criminal underground. Pushback Against Illegal Money from Russia According to a report on Politico, Marius Jurgilas – a board member of the Bank of Lithuania –  discussed concerns that the Baltic state has with money pouring

2018-6-26 09:18