The head of VTB bank said that he did not like the main cryptocurrency. According to him, the future of the financial sector lies in national digital currencies (CBDC).
VTB CEO Andrey Kostin said in an interview with Bloomberg that he did not like Bitcoin and called it a fake currency.
"We don't like Bitcoin. We think it's like making fake money," says VTB Bank President Andrey Kostin https://t.co/RZE8CY60eB pic.twitter.com/KVrW7dcdSF
— Bloomberg TV (@BloombergTV) June 4, 2021
“We don’t like Bitcoin. It’s like making fake money. Someone somewhere “mines” money, it’s like in the Middle Ages or counterfeiting, “- said Kostin.
In contrast to decentralized cryptocurrencies, Kostin brought national digital currencies (CBDC). According to him, many countries are already developing their own CBDCs, since the future belongs to the digitalization of the financial sector.
The Bank of Russia is also working on creating a digital ruble, which will be tested next year, Kostin recalled. The Central Bank has already predicted that in the next few decades, the digital ruble could completely replace cash.
The regulator also reminded that the final decision on the introduction of the digital ruble is not pleasant yet. This will happen after the Bank of Russia tests a prototype platform for working with the digital ruble, which will be created by the end of this year.
In March of this year, Kostin already spoke about bitcoin. Then he called the main cryptocurrency “doomed” and pointed out that the world’s central banks will introduce their own digital currencies.
