Winter Is Coming From Russia - Putin: "Cryptocurrency Poses Serious Risks"

in bitcoin •  11 months ago

In a first meeting ever dedicated exclusively to cryptocurrencies, Russian president Vladimir Putin was quoted saying:

"Virtual [currencies] or cryptocurrencies are becoming and have already become more popular. They have already become or are turning into a full-fledged payment instrument and an investment asset in certain countries. At the same time, use of cryptocurrencies also carries serious risks."

The position was clear towards a stricter regulation framework. It's interesting to note that this statement comes after another very sharp statement by the state bank of Russia, by its governor, Sergei Shvetsov, who said that the bank will back efforts to block access to external websites which are selling cryptocurrencies in Russia.

This may mean any of the following:

  • the volume of value in crypto is becoming alarming for the existing aparatchiki and they really intend to block access all over
  • they will block access only until some of their own business entities will hold a substantial amount of crypto, which will give them some sort of upper hand
  • nothing will really happen, because crypto can't be really stopped

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Totally agree! Cryptocurrency Markets are bound to grow bigger than existing Markets! Wouldn't be surprised to have a Blockchain that is valued more than some of the biggest corporation in the World like Facebook, Apple or Microsoft!

@dragosroua Cryptos can not be Stopped and we are in for a new Monetary System Paradigm. We will get incredible wealth creation as more and more people adopt the Cryptos all over the World......


It's true, but I think the transition won't be smooth. On the contrary.


It will be exciting to see how FAST things change........

Lol, Rotshild's bitches are at play.
I'm from Russia. They change their opinion every half of a year. It's just a new try to downsend the prices (it won't be a strong one like Chinese regulators ), and as you put it, get the upper hand.
Those politicians in every country are practical and slowly thinking people. They can't act independently, always wait for commands.
So be calm, buy and hold like no one told you anything, because they really didn't.
Let's look at bright sides, for example, Ukraine admitting cryptos.
Thank you for your post!


So be calm, buy and hold like no one told you anything,

ny thoughts exactly...


We are all people and we are all equally free to do what we want

I was wondering why Russia seemed so open to crypto. In fact they are not because they see the potential for people to become more independent. But the forbidden always tastes better :P so I don't see restriction working in the long run

Another one trying to kill bitcoin so, another Skyrocket for Crypto's again very soon!


Good reframing, I like it :)

He's just butthurt because his coin isn't worth much lmao!

I think it's normal that comunist countries are stricter when it comes to "new" and "change"
Also, they do not like when money exists their country so they will regulate the crap out of this.

"apparatchiki", good one... learned something new today (-:

It's going to be interesting to watch what happens. With no international regulation to my knowledge these countries could just be trying to manipulate the market.

I'm fine with this because right now I'm just staying the course and continuing to accumulate.

Sense like another FUD :D I am ready for it :D


This winter is already getting hot haha :D

You can stop cryptocurrencies if you can destroy the internet !

This is unfortunate.

I thought Russia would support cryptocurrencies as a way to counter:

  • the hegemony of the US Dollar and EURO
  • sanctions by Western states

Yes, I heard the same theories, so I'm surprised to an extent.

It'd be a huge opportunity for them, apparently authority is still much more important for them.


Maybe Russia is opting for authority rather than more freedom from the USD and EURO because they are less distrustful of a Trump led US and the EU is imploding.

Russian authorities tries to control people as much as possible. Cryptos can provide incredible anonimity - this is the main danger for the state. Even not that fact, they can not control crypto currency , but the fact, that they can not control the people, who use it.

He, as many others, is playing it down... he probably has a good sized wallet of them though.

When the hedge funds and other big money enter and start the stampede, all will be mute from these control speeches.


he probably has a good sized wallet of them though.

that's my impression too...

why is every country going against Crypto :(