Deputy Finance Minister, Alexey Moiseev, in addition to the official position expressed at the Gaidar forum, also shared his personal opinion about the cryptocurrency.
«If to speak about my personal opinion, it is not only bureaucratic, but also a meaningful match. I believe cryptocurrency is the next toy that will find its niche after a while and she will only deal with those who want to do it. It’s like playing tanks: someone plays, somebody not, exactly the same remain some people who will use cryptocurrency,» — said the Deputy Minister.
However, at the same time Moses spoke quite positively about the ICO: «This is a simple, convenient and inexpensive way to raise small amounts of money. Niche for ICO is and will develop.»
Another member of the forum, first Deputy Chairman of the CBR Sergey Shvetsov, also shared his thoughts on cryptocurrencies, their purpose and future:
«The Bank of Russia is concerned about «the viagra effect» for most of cryptocurrency, which is a good platform for financial pyramids, though created for other purposes. As in the case of viagra, which was invented by accident when looking for the formula of the cardiac muscle, the cryptocurrency created for the global market, something that could be used as a means of payment, but the result is completely different – an elegant platform for creating financial pyramids».
Further Shvetsov said that now cryptocurrencies are considered by buyers as an investment, not a means of payment, as it was originally intended:
«Today’s boom in cryptocurrency due solely to investment interest. People buy what they do not really understand, with only one goal tomorrow to sell even more. I can say quite clearly that the Russian regulators will not do anything that could support this kind of pyramid».
«As soon as cryptocurrencies fall under the tax regulation and the legislation on protection against the laundering of the proceeds – their consumer properties will be immediately lost, and in this case we will observe the care of the cryptocurrency in financial arenas, since they will cease to be interesting for buyers.»
Another forum member, a very influential figure in the Russian financial circles, the head of Sberbank German Gref in his speech said that cryptocurrencies cannot be banned, and you shouldn’t rush to regulation.
Speaking of cryptocurrencies, Gref cited the example of a time when the streets were first cars: «Answer me this question: when were the first cars on the streets of new York, London and Moscow, they were immediately the rules of the road ? You shouldn’t rush to regulation. You need to start to maintain a normal atmosphere for the technology of the blockchain and cryptocurrency».
However, Gref agreed with the previous speaker Sergei Shevtsov as to how ordinary people perceive the cryptocurrency. The head of Sberbank believes that it is necessary to conduct explanatory work with people that they did not take the cryptocurrency as a means of accumulation:
«This is a very dangerous story. Should not invest money that you cannot afford to lose, as long as it’s very similar not a lottery or casino.»
«But in any case shouldn’t something from this ban, because cryptocurrency is born a giant new technology, which we are not yet able to realize, no one is able to realize. This is a normal process. Do not assume that now something is happening in the country is quite unusual. The speed has changed, it’s true. Need tolerance, need patience. And we need cooperation» — called Gref.