VTB CEO Andrey Kostin compared bitcoin mining to counterfeiting

Andrey Kostin, Chairman of the Board of VTB Bank, during an online discussion with Private Banking clients, expressed the opinion that the future of bitcoin is doomed, despite the rapid growth of the cryptocurrency rate. Forbes reports .

“I have always believed that such“ left ”digital currencies as bitcoin, despite the large increase in its price, are still doomed in the future. Not a single state financial system can allow a certain currency to exist and not be regulated by government agencies if the currency takes a significant place in foreign exchange, in budget operations, ”the banker said.

He added that no country “can calmly watch how money is mined.”

“It’s like counterfeiting, it always seemed to me,” Kostin emphasized.

However, the head of VTB is convinced that “digital currency is an inevitable thing, because the world is becoming digital.” At the same time, Kostin expressed confidence that the future belongs to state digital currencies issued by central banks. In this context, he cited China as an example.

“The Chinese have made great progress on this issue – the creation of the digital yuan, and other countries too. Russia is no exception. The Central Bank announced such a concept, we supported it, but on certain conditions, “said Kostin.

Earlier, Kostin did not rule out the departure of private investors from the traditional market to bitcoin.

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