Tinkoff Bank would like to offer its clients the opportunity to trade cryptocurrencies, but cannot do this yet due to the policy of the Russian central bank. This was announced by Tinkoff Group CEO Oliver Hughes in a conversation with CNBC at the St. Petersburg International Economic Forum. According to him, their clients include “qualified investors who know what they are doing” and are interested in cryptocurrency trading.
“There is currently no mechanism that would allow us to offer them this product in Russia because the central bank is taking a very tough stance,” Hughes announced.
Oleg Tinkov recently said that cryptocurrencies are “about people who want to hide something from someone.” At the same time, he noted that there is no point in dealing with cryptocurrencies in Russia, since “they are prohibited, and I do not see that this will be allowed in the near future.”
Hughes said he shares concerns about the use of cryptocurrencies for money laundering and the presence of retail investors who can make bad decisions. However, the interest of professional investors in this asset class is growing, he added.
“Hopefully, over time, there will be a change on this front and we can achieve the central bank’s goals to prevent money laundering, protect investors, but also offer the product in a responsible manner,” Hughes said.
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