Chairman of the Board of VTB: "Investors can leave the stock market in bitcoin" – Bits Media

Andrey Kostin, Chairman of the Board of VTB Bank, believes, that due to strict restrictions on the stock market, investors may take particular interest in bitcoin and other "less understandable" products.

Recall, what with 1 january 2021 year came into force the law "On digital financial assets (CFA) and digital currency ". At the end of last year, the Central Bank of Russia proposed limiting the amount of digital assets for the purchase of individuals before 600 000 rubles a year.

Kostin said, which supports the actions of the Central Bank to protect private investors, However, the regulator should adhere to the "golden mean" between the development of the market and its control. Russian President Vladimir Putin at a meeting with the government announced the need to protect the interests of citizens in the stock market, but not to “reover” the market.

“Too hard restrictions will lead to that, that people will leave the Russian securities market for gold, Dollar or bitcin. Investors will prefer to open accounts from foreign brokers, who will not provide them with proper legal protection. People will begin to use less transparent products, And even more focus on cryptocurrencies ", - said Kostin.

Recall, that earlier the chairman of the State Duma Committee on the Financial Market Anatoly Aksakov called Bitcoin the "bubble", which at any time can burst. Deputy Chairman of the Bank of Russia Alexei Zabotkin is also convinced, that it is dangerous to invest in bitcoin and other digital assets, since they have high volatility.