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Bitcoin Backed by Sberbank’s Gref as Russia Plans Curbs

Advocates of Bitcoin gained support from OAO Sberbank chief Herman Gref, who’s urging the Kremlin to stop Russian lawmakers from curbing the use of virtual currencies in a bill designed to cut funding for terrorists.

“It’s a very interesting global experiment that breaks the paradigm of currency issuance,” Gref said in an interview at the World Economic Forum in Davos, Switzerland. A ban would be a “colossal step backward,” said Gref, who was economy minister during President Vladimir Putin’s first two terms.