Crypto News: Putin Condemns Bitcoin, Calls for Russian Ban of Digital Currencies

Russian government-owned RT and Reuters both report that Vladimir Putin has decided to take a stand against cryptocurrencies in general, and Bitcoin in particular. RT reports that Putin believes digital currencies could be used to finance terrorism, evade taxes and launder money, and that Bitcoin itself is a pyramid scheme.

RT quotes Putin as saying that Bitcoin creates:

"Opportunities to launder funds acquired through criminal activites, tax evasion, even terrorism financing, as well as the spread of fraud schemes."

After Putin blamed a host of Russia’s criminal problems on Bitcoin, the central bank echoed his remarks, calling digital currency a pyramid scheme:

"We have seen how Bitcoin has transformed a payment unit into an asset, which is bought in order to obtain a high yield in a short period of time. This is the definition of a pyramid."

Full story at http://bit.ly/2i49zAy

Source: CoinTelegraph

 

 

 

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