Economy

Russia Will Block Bitcoin Exchange Websites, Says Central Bank Official

According to the Bank of Russia's First Deputy Governor Sergei Shvetsov, cryptocurrency exchanges will not only be banned but their websites will be blocked so that Russian citizens will not be able to access them at all (unless they have the technical knowhow to bypass the government's firewall).

The Financial Times on Tuesday reported that Putin said cryptocurrencies like bitcoin pose "serious risks" and allow for people to "launder criminally obtained money, evade taxes and even finance terrorism, as well as, of course, perpetuating fraudulent schemes that obviously may affect ordinary citizens".

It has also been noticed earlier that financial stakeholders of Russian Federation imposed a ban on any sort of money issued by any non-government institution.

At a later stage, however, the authorities adopted the globally flourishing market for cryptocurrency, but they either wanted to either control turnover or limit access to the market.

Speaking at a conference on financial market derivatives, Shvetsov said while referring to the household "We can not stand apart".

Top Russian officials have been recently discussing measures to fix the legal limbo surrounding cryptocurrencies, ranging from introducing a regulation of sorts to imposing an outright ban on the token-based electronic currencies.

The central bank of Russian Federation is seeing a rise in crypto-currencies because of high returns from buying into such instruments.

TechJuice for Browser: Get breaking news notifications on your browser.



Like this

loading...
loading...

Latest


10 October 2017
Analyst's Predictions on Albemarle Corporation (ALB), Teradyne, Inc. (TER)
BURGHER CEDRIC W . bought $101,745 worth of stock. $878,110 worth of stock was sold by Roberts James Hildebrand on Friday, June 9. The stock has "Neutral" rating by William Blair on Thursday, October 15. (NYSE:GVA) on Thursday, March 23 with "Buy" rating.

10 October 2017
Scotland Plans Publicly Owned Utility in Threat to the 'Big Six'
At the heart of all that we do is a determination to make Scotland the best place in the world to grow up. Right now, we invest around £420m a year in early years education and childcare.

10 October 2017
Las Vegas gunman's girlfriend unaware of shooting plan
Stephen Paddock , the man who let loose a barrage of bullets on the Las Vegas Strip in the worst mass shooting in modern history. A Philippines immigration spokeswoman said Danley arrived in the Philippines on September 25 on a flight from Hong Kong.

10 October 2017
Netherlands: Coalition deal reached after 208 days
The D66 leader, Alexander Pechtold , said that after years of austerity, the new government will reward voters with lower taxes. Initially, VVD wanted to negotiate a government with the Green-Left Party, but there was no agreement over migration policy.

10 October 2017
Breast Cancer Screenings In Greensboro
The annual fundraising campaign has raised £30 million to date for Breast Cancer Now's life-saving research. They hope to improve the gene test to include more variants that contribute to breast cancer chances.

10 October 2017
Disney Renews 'That's So Raven' Spinoff for Season 2
In the series, the one-time Cosby kid reprises her role as Raven Baxter from the comedy That's So Raven . Production will resume next month in Hollywood.

10 October 2017
Arsenal to move for highly-regarded Mexican winger in January
Arsenal are reportedly monitoring the progress of Mexican winger Hirving Lozano after a storming start to his Eredivisie season at PSV.

10 October 2017
Saints trade Adrian Peterson to Cardinals
This pretty much kills the fantasy value of Chris Johnson, and it likely doesn't help Andre Ellington's value too much either. Peterson was expected by many to be a new, key cog within New Orleans' offense, but it did not exactly work out that way.

10 October 2017
Raytheon Company (RTN) To Go Ex-Dividend on October 11th
Lawrence, VP, sold 3,791 with an average share price of $182.09 per share and the total transaction amounting to $690,303.19. The stock of Raytheon Company (NYSE:RTN) earned "Top Pick" rating by RBC Capital Markets on Thursday, September 17.

10 October 2017
ISIS terror plot thwarted in NYC a year ago
Haroon was arrested in Pakistan in or about September 2016, and SALIC was arrested in the Philippines in or about April 2017. El Bahnasawy, Haroon, and Salic have been charged with multiple crimes and will be facing life sentences.