Russia has expressed serious risks when using cryptocurrency

Russian President Vladimir Putin said that the use of cryptocurrencies carries serious risks, creating the possibility of money laundering. About it reports a press-service of the Kremlin.

Photo: Reuters

This was the Russian President said at a meeting on cryptocurrencies.

“Crypto-currencies in some countries have already become full-fledged means of payment, asset investment. However, the use of the cryptocurrency and carries serious risks. First of all, the possibility of money laundering obtained by criminal means, tax evasion and financing terrorism, and, of course, the distribution of fraud schemes, the victims of which can become ordinary citizens,” he said.

Putin also noted that the cryptocurrency does not exist ensure.

“In the event of a system failure or “blowing bubbles” as they sometimes say, it will not be legally responsible entity”, he added .

However, the Russian President stressed that Russia should use the advantages that new technological solutions in the banking sector. He urged to build a regulatory environment that will allow to systematize the relations in this sphere and protect the interests of citizens, business, and government.

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