VTB: in the future of cryptocurrency can be compared in status with Fiat money

In February, VTB management , saidthat the blockchain, unlike Bitcoin, will be in demand in the banking sector. The reason for the confidence in technology was the prospect of improving the speed of transactions and security standards.

Now the Chairman of the Board of VTB Olga Dergunova said that the cryptocurrency in the future can equal in status with ordinary money. Her words quoted by RNS.

As Russian banks belong to the crypt

Dergunova added that the Bank is ready to start working with digital money as soon as the Bank of Russia determined the boundaries of the regulation of cryptocurrencies.

Any ad hoc area within which the handling of client money creates a very high risk for both parties. We are ready to work as soon as the regulation is established. Cryptocurrency may be the same currency as any other. But it is worth noting that cryptocurrencies will be more volatile than Fiat money, so the risks for market participants when dealing with them will be higher.

The Deputy Chairman of VTB reiterated the high risks for participants.

This will work when there will be clear principles of cooperation between the parties in the process of moving currency bills. But it is worth noting that cryptocurrencies will be more volatile than Fiat money, so the risks for market participants when dealing with them will be higher. Most likely, this situation will continue in the near future due to the nature of cryptocurrency.

It seems that banks are gradually changing attitudes to bitcoin. And if the state Duma in the autumn session will pass a law on regulation of digital money in Russia may poyavitsya the first financial organization to serve the Bitcoin transactions.

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