According to Interfax, the head of Sberbank, German Gref, supported the introduction of a ban on payments in cryptocurrencies in Russia. At the same time, he is against the ban on stablecoins in the country and called for carefully regulating this area in order to prevent the flow of competent specialists abroad.

According to Gref, in Russia it is only necessary to ban the circulation of cryptocurrencies as a means of payment, and also to explain to the Russians that cryptocurrencies are an investment with a highly volatile exchange rate. Gref emphasized that he is against restrictions on the ownership of cryptocurrency, including any of its derivatives and stablecoins.

At the end of 2017, Gref said that the creation of mining farms in Russia should be encouraged in order to help the development of regions with an excess of electricity. At the same time, Sberbank apologized that it had sold out almost all video cards on the Russian market for its artificial intelligence laboratory. In 2020, Sber announced the development of its blockchain platform and the creation of the Sbercoin digital currency.

On January 20, the Central Bank published a report in which it proposed to ban cryptocurrencies and mining in the Russian Federation. After that, the demand for mining equipment fell in Russia.

Regarding the regulation of cryptocurrencies in the Russian Federation, the state departments decided to hold discussions on this issue, and not completely ban it. On January 27, the Ministry of Finance of the Russian Federation presented the concept of rules for operations with cryptocurrencies. On January 28, the Ministry of Digital Development explained that a ban on the circulation of cryptocurrencies in Russia would dramatically reduce the pace of development of the IT industry and make it uncompetitive.

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