Published on October 11th, 2017 | by bitcoin0
Vladimir Putin, the Russian President backs crypto currency rules and warns of serious risks
Russian President Vladimir Putin is sounding the alarm over cryptocurrencies.
Speaking at a government meeting in city of Sochi yesterday, Russian President Vladimir Putin said: “The use of cryptocurrencies bears serious risks,” (for example: money laundering, tax evasion and funding for terrorism).
He called crypto-currencies «dubicious» and said Russian authorities think that this is a pyramid scheme and the risks are too high.
Also earlier this year, they said they would like to regulate the use of cryptocurrencies by Russian citizens and companies.
Authorities understand that the cryptocurrency is an important part of the financial system nowadays, but are not ready for the risks that it entails.