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.
The use of cryptocurrency in Russia continues to rise despite the country’s harsh policies surrounding it. While great representatives of international politics and banking call Bitcoin fraudulent or even “the largest bubble in history,” a study by the Fatcats Market pollster showed that 99% of Russians do not share this view and on the contrary – crypto is popular in Russia. Despite the efforts of the government to promote a negative image, only 1% of the Russian population endorses that opinion. This is just another example of the level of trust and adoption that cryptos are gaining at a worldwide scale.
BITCOIN investment is going to cost speculators large amounts of money as the cryptocurrency is set to face a "severe" value correction in the coming months, economic trend expert Byron Wien said by AURORA BOSOTTI“We call an ICO a Sci-Fi Crypto-Currency ICO where the project clearly is a clone of existing ideas and crypto-currencies but improves upon them by making certain enhancements thereby increasing the value,” stated Pavel Vrublevsky, founder of card payment service provider ChronoPay.com, and co-author of the DARFChain report.The UK and other EU governments are planning a crackdown on bitcoin amid growing concerns that the digital currency is being used for money laundering and tax evasion.
The Treasury plans to regulate bitcoin and other cryptocurrencies to bring them in line with anti-money laundering and counter-terrorism financial legislation. Traders will be forced to disclose their identities, ending the anonymity that has made the currency attractive for drug dealing and other illegal activities.
