Sberbank CEO sees no prospects for using cryptocurrencies for internal settlements in near term

MOSCOW. Nov 13 (Interfax) - There are no prospects for using cryptocurrencies in settlements within Russia in the near term, Sberbank CEO Herman Gref said.

"Is it possible for cryptocurrencies to circulate within Russia for internal transactions? I do not think so. This is not permitted by law, and I do not see any prospects for this to be permitted in the near term," Gref told reporters on the sidelines of Sberbank's blockchain conference.

Settlements in cryptocurrencies in Russia are currently prohibited, though the possibility of using the instruments in cross-border settlements is under consideration as part of an experimental legal regime.