This article is from 1prime.ru and the original article can be read here
MOSCOW, April 11 – PRIME. The growth of the cryptocurrency market largely reflects the formation of a “bubble”, cryptocurrencies have signs of a financial pyramid, and investors’ investments in them can be completely lost, the annual report says Bank of Russia.
The regulator considers the decline in Russia’s GDP inevitable in the current environment
“The spread of cryptocurrencies in Russia also poses a threat to the well-being of citizens – the growth of the cryptocurrency market largely reflects the formation of a “bubble” in the market, cryptocurrencies have the characteristics of financial pyramids, the possibilities for legal protection of investors are extremely limited, investments in cryptocurrencies can be completely lost due to the volatility of the exchange rate , and as a result of fraudulent activities and cyber threats,” the report states.
Formerly at the Ministry of Energy supported the idea of legalizing mining in Russia.