Published: Wed, October 11, 2017
Money | By Armando Alvarado

Putin: Cryptocurrencies bear serious risks, including financing of terrorism

Putin: Cryptocurrencies bear serious risks, including financing of terrorism

It kicked off with a unusual flash crash registered by the CoinDesk tracker that momentarily caused the cryptocurrency to appear to plunge by 12 percent.

Bitcoin investors were hit Tuesday by a double whammy of worrisome news from Russian Federation, where President Vladimir Putin denounced the cryptocurrency as risky and used by criminals, and the country's central bank said it would support moves to block websites dealing in bitcoin and other virtual currencies. The president spoke with the Bank of Russia's Governor, Elvira Nabiullina, the country's Finance Minister Anton Siluanov, and a Kremlin economic aide named Andrey Belousov. "We can not give direct and easy access to such dubious instruments for retail (investors)", Shvetsov said, according to Reuters.

Putin called for building a "regulatory environment" based on worldwide experience that would defend the interests of business and the state, as well as provide legal guarantees for those using the instruments.

He also acknowledged the concerns that Russia's Central Bank has expressed.

Russia's central bank announced some new cryptocurrency limitations today.

Judge puts sex offender's custody order on hold
I was receiving about $260 a month in food stamps for me and my son and health insurance for him. Yockey said her client will continue to pay $316 in monthly child support.

"Cryptocurrencies are issued by an unlimited number of anonymous bodies".

According to Bloomberg, private deliberations are still happening. Last month, the finance ministry said that they would be regulated like securities.

Shvetsov noted that interest in cryptocurrencies has been growing due to their appealingly high returns.

Segei's comments caused a flash crash in Bitcoin as the digital currency fell more than $600 in just a few minutes. They have already become or are turning into a full-fledged payment instrument and an investment asset in certain countries.

Like this: