Bitcoin Exchange Websites To Be Blocked In Russia: Report

In News
Even though
the value of bitcoin is once again rising at a neck-breaking
pace, the clouds of uncertainty aren’t going to disappear anytime
soon. According to a Reuters report,
Russia is going to block access to cryptocurrency exchanges
like bitcoin.

The report states that these statements were made by Sergei
Shvetsov, first deputy governor of the Central Bank of Russia
(CBR), at a financial markets conference.

He further labeled bitcoin’s nature as “dubious.” “We cannot
stand apart. We cannot give direct and easy access to such
dubious instruments for retail (investors),” he said. According
to him, the increased interest in cryptocurrencies like bitcoin
is being seen due to high returns to date.

Also Read: A Step-By-Step
Guide To Cryptocurrency Investment

Russian news website RBC reports that bank authorities are
currently working with special prosecutor’s office to execute
the future block. At the moment, any tentative date of
implementation isn’t available.

On the other hand, on Tuesday, Russian President Vladimir Putin
said that cryptocurrencies could be too risky. He supported
Central Bank’s position.

“Crypto-currencies are issued by an unlimited number of
anonymous bodies. Thus buyers of crypto-currencies could be
involved in unlawful activities,” Putin said.

How will Russia’s plan to block cryptocurrency exchange
websites impact bitcoin and its prices? Don’t forget to share
your views.

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