Sberbank-Backed FinTech Investment Fund Sees Blockchain Potential

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SBT Venture Capital, a $100m venture fund backed by Sberbank, the largest Russian bank, has suggested it is interested in bitcoin and blockchain innovations.

The statements, issued by SBT partner Mircea Mihaescu to online news source Roem.ru , stand in contrast to continued suggestions by government officials that the use of bitcoin will be formally outlawed this spring.

In the interview, Mihaescu was largely dismissive of legislation and regulation in general, stating his belief that laws often lag behind innovation, and as such, perhaps shouldn’t be a key concern for global entrepreneurs.

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