Russia To Limit Bitcoin Sales To "Qualified Investors Only"

Russia loves to keep the cryptocurrency world on it's feet...

Russian Deputy Finance Minister Alexei Moiseev, during an interview with state-owned Russia 24, suggested that Russia may treat Bitcoin and other cryptocurrencies "as sophisticated financial assets and restrict their use and trading to qualified investors only."

(Image Source: Zero Hedge and Public Domain)

While Bitcoin would be regulated and sold on official regulated stock exchanges, sales would be limited to "qualified" (I assume that means high net-worth) investors. Moiseev also claimed that Bitcoin is "dangerous" and that "the use of cryptocurrencies for illegal operations has become much more frequent."

Moiseev also said it was necessary to sell Bitcoin only through the stock exchange so that "the regulator will know who the buyer is, who the seller is, and where these Bitcoin accounts have moved."

Not sure if this guy actually totally understands how Bitcoin works, but it's certainly an interesting development, especially considering that many people expected Russia to legalize Bitcoin for public use by 2018.

Go read more here: http://www.zerohedge.com/news/2017-08-29/russia-backpedals-bitcoin-unveils-plan-ban-cryptocurrency-sales-ordinary-people