Sberbank Plans To Launch Crypto-Based Investment Fund

Herman Gref, the CEO of Russia’s largest state bank Sberbank, said he could not yet anticipate the governments abandoning their centralized role in fiat currency creation as part of his comments on cryptocurrency.

Sberbank Crypto Invest Fund

On July 4, Sberbank’s Herman Gref recited his comments during the Astana Finance Days international conference in Kazakhstan regarding crypto assets’ future role in the economy.

However, last month, Sberbank revealed its plans to launch a crypto-based investment fund, which contributes to increasing its crypto interaction in the run-up to the new regulated era.

The continuous metamorphosis of cryptocurrency’s regulatory status within Russia presented in Gref’s words. This week recognizes the deadline for new legislation becoming law which cements cryptocurrency as a separate class of asset without the status of legal tender.

The following week, Gref had nevertheless come out bearish, telling local news outlet Kommersant that he wouldn’t advise buying cryptocurrency to anyone who has no interest in playing at a casino.

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