Kostin: Private Cryptocurrencies Face Global Resistance
Andrey Kostin, head of VTB, stated at the Eastern Economic Forum that while he believes in the future of cryptocurrencies, private, non-state digital currencies face resistance from all countries' central banks. He also noted the launch of digital rubles for use in major retail platforms.
Consensus
- Andrey Kostin, head of VTI, spoke at the Eastern Economic Forum about the future of cryptocurrencies.
- Kostin believes that cryptocurrencies have a future, but private, non-state digital currencies face resistance from central banks worldwide.
- The digital ruble became available to clients of major banks starting September 1.
- Digital ruble payments are being accepted by marketplaces such as Wildberries, Ozon, and Yandex Market.
- The Eastern Economic Forum is taking place in Vladivostok from September 1 to 4, 2026.
- The digital ruble can be used for transfers up to 300,000 rubles per month with no commission.
Points of divergence
- The digital ruble will be accepted by supermarkets and auto dealerships. — vedomosti
- Kostin expressed skepticism about predictions of the imminent collapse of traditional financial systems, citing that banks have not died after 20 years despite blockchain predictions. — kommersant
- Kostin emphasized that central banks' opposition to private cryptocurrencies is legitimate. — vesti
Coverage (3 sources)
- Kostin: Private digital currencies cause resistance in all countries — Ведомости
- Head of VTB sees future in cryptocurrency — Вести
- Kostin explained why Central Banks fight against private cryptocurrencies — Коммерсантъ