The head of VTB Bank, a major Russian financial institution that sees the government as its majority shareholder, has compared bitcoin mining with counterfeiting. Andrei Kostin, who serves as the president and the chairman of the management board of VTB Bank, said Monday during an event that any person who prints digital money to replace Russian Ruble was counterfeiting the state-backed fiat. According to Russian news agency TASS, the 62-year old banker also declared that he put central bank digital currencies in the same basket of decentralized cryptocurrencies, adding that: “I’m not a big supporter of crypto-ruble. For me, this The post Mining Bitcoin or the ‘Crypto-Ruble’ Just Another Form of Counterfeiting, Claims Russian Banking Chief appeared first on CCN
