Russian Deputy Finance Minister Alexey Moiseev said that cryptocurrencies are not a pyramid scheme while discussing decisions to ban sales.
Domestic television channel Rossiya 24′ Speaking at the same time, Moiseev said that the government only wants to allow knowledgeable investors and has logical reasons for doing so. not,” he repeated.
“If we consider ordinary people, such dangerous investments can lead to a huge loss of money.”
Contradictory Statements
These statements were made just a few weeks after the state-backed Bitcoin mining company was announced.. The goal of this company was to attract market share from China and raise $100 million.
New plans for the regulation of cryptocurrencies mean that the Moscow Stock Exchange will be the only platform on which investors will have access to Bitcoin and other cryptocurrencies.
The reports that preceded the regulations were that Russia’s so-called BitRuble was being developed by the central bank.. It has been suggested that this virtual currency will have a freer market than traditional cryptocurrencies.
“We do not call cryptocurrencies to the market.. Or we have no intention of issuing them as currencies,” added Moiseev
Due to the succinct nature of the reporting, it does not include how authorities will block citizens buying cryptocurrencies.. Future steps may be to block similar parallel websites as regulators have done in previous years.
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