10 Oct '17, 8am

Russian central bank to ban websites offering crypto-currencies

SOCHI, Russia (Reuters) - President Vladimir Putin said on Tuesday crypto-currencies were risky and used for crime, as Russia’s central bank said it would block websites selling bitcoin and its rivals - a change of tone from a month-old promise to legalize the market. Central Bank First Deputy Governor Sergei Shvetsov told a conference in Moscow that the currencies were “dubious” and investors needed to be protected. “We cannot stand apart. We cannot give direct and easy access to such dubious instruments for retail (investors),” Shvetsov said. Around 1,000 miles (1,600 km) further south in the resort of Sochi, Putin told reporters that crypto-currencies could be used to launder money, evade taxes and finance terrorism. “The usage of crypto-currencies carries serious risks. I know the central bank’s position on that,” Putin said. “Crypto-currencies are issued by an unlimit...

Full article: https://www.reuters.com/article/us-russia-cenbank-bitcoin...

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