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Russia’s Largest Bank Scraps Crypto Plans Even with Pro-Bitcoin CEO

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By CCN: Sberbank, the largest bank in Russia, is scrapping its crypto plans, citing the anti-bitcoin sentiments of government regulators. Ironically, the CEO of Sberbank, Herman Gref, is a bitcoin proponent. However, others at Sberbank are not convinced of the merits of virtual currencies, so they’re suspending all cryptocurrency-related projects. Andrey Shemetov, the global markets head at Sberbank, made the announcement at a May 30 press conference, Tass reported. “We waited for legislation that allows you to trade cryptocurrencies. Since the regulator is currently looking negatively , we decided to suspend our cryptocurrency plans.” Russia Delays Roll-Out of Regulations

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* First published on ccn.com

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