Tinkoff Bank Says It Is Ready to Offer Crypto Trading

The Russian Tinkoff Bank is ready to offer clients the ability to trade cryptocurrencies, but this is hindered by the central bank’s hard stance on assets. This was stated by the bank’s president, Oliver Hughes, in an interview with CNBC.

According to him, “qualified investors who know what they are doing” are prepared to invest in cryptocurrencies.

“At present we do not have a mechanism to offer this product to them in Russia, because the central bank takes a very hard position,” Hughes said.

He shares the central bank’s concerns about the possible use of cryptocurrencies for money laundering and the conduct of retail investors in digital currencies, who may make poor investment decisions. Hughes expressed hope that as the cryptocurrency industry develops these risks will decrease.

The Bank of Russia has repeatedly stated that Bitcoin is not a currency, and compared it to a pyramid and a game of roulette.

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