Putin: Bitcoin Poses Serious Risks, We Need To Professionalize Crypto Currency Trading

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Russian president Vladimir Putin said in a meeting today that cryptocurrencies pose significant risks related fraud and money laundering.

Quoted by Russian state news service TASS, Putin was speaking during a meeting that was focused on the subject of cryptocurrencies and financial tech more broadly. In the meeting, he formally voiced his support for new rules around cryptocurrency trading, stating that Russia should look to international examples as a guide when developing those regulations.

Indeed, the meeting represents some of Putin's most comprehensive comments on the subject to date. He first spoke about cryptocurrencies in the summer of 2015, remarking at the time that there were "serious, really fundamental issues related to its wider usage." In his new statements, Putin highlighted the rising profile of the technology, while also echoing those 2015 comments.

Putin was quoted as 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."

On the subject of the rules themselves, Putin threw his support behind regulations that would protect consumers and facilitate the development of new financial products.

"We should develop such a regulatory system on the basis of international experience that will make possible to make relations in this sphere systemic, definitely protect interests of citizens, business and the government, and provide legal guarantees for work with innovative financial instruments," he said.

His comments come after a senior official for Russia's central bank stated publicly that his institution will support efforts to block access to external websites that offer cryptocurrency brokering services in the country. Representatives from the Bank of Russia were also present at the Putin meeting, according to sources.
Cryptocurrency turnover in Russia is to be regulated to protect the citizens and business' interests, but not to hinder the development of the financial system. Today the president held a special meeting in Sochi to discuss the future of digital money.
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Putin: Bitcoin Poses Serious Risks, We Need To Professionalize Crypto Currency Trading

59 Kommentare

    1. ate a cheese Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

    2. Jim Miklas we are Orthodox Christians with no kebab and Serbia is located in south west Europe ! Here even our Muslims are white and drink coca cola !

    1. the problem is that in the whole world there is too little gold and bitcoins (maximum is limited) for the functioning of the world economic system.

    1. Wsy NicK Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

    2. First off stupid sheep people turned 6oo a coin into 3300 this year. If they leave today are they dumb? Number 2 the 2008 crisis was caused by Barney frank and other socialists that said everyone deserves a house and a mortgage and then selling these ’no paper mortgages‘ and creating financial instruments out of them. In bitcoin there is NO GOVERNMENT and NO BANKS of course Putin a product of GOVERNMENT dislikes them.

    1. Agenda 2030! Bitcoin will be a Ledger on resources consumed and you will be limited on you consumption!!!. Bitcoin everything….Bitcoin water, Bitcoin gas, Bitcoin utilities, all controlled by the folks with endless cash!!!

    2. texture6, u cant suck up a resource into cyberspace. there is still real material assets. doesnt matter if its on the ledger if the warehouse doesnt have ur gold then it was just fabrication anyways. Bitcoin and blockchain is public transparentcy of record keeping mass distributed and verified. thats all it is. applications are limited within this domain of reality. THINK

    3. QuanGtum 3LE37 Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

  1. It’s de facto an attack on states. It’s anarchy. People who are trading in Bitcoins should logically destroy their passport.

  2. The biggest risks are the banks, Putin is clearly not speaking in the best interest of the people. He may be good for Russia as a nation, but not good for the average Russian, restricting peoples rights and telling them what to do is never a good thing, especially when it is about taking their hard earned money.

    1. Agenda 2030! Bitcoin will be a Ledger on resources consumed and you will be limited on you consumption!!!. Bitcoin everything….Bitcoin water, Bitcoin gas, Bitcoin utilities, all controlled by the folks with endless cash!!!

    2. sergiosergio12345678 Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

    3. Maybe you’re not well-informed. In Russia many people were not enough financially knowledgeable and fell victims of rogue schemes so that the government had to resсue them sometimes. Now they just try to prevent a risky and potentially dangerous new one.

    4. The smallest risks are shipping idiots like you off to some Island in Cambodia where you can count your empire of bitcoins.. If you can get online that is 🙂

    1. Mark Mywords Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

  3. O oh, this is a let down for me as far as Putin is concerned. the only threat bitcoin and other crypto currencies are is to the parasitic central banks.  As for funding terrorism, don’t make me laugh, Australias biggest bank, the Commonwealth bank, has been linked to exactly that, money laundering funding terrorism and other crime. Putin you are starting to get a bit on the nose

    1. … in other words… the people learned how to do (with the help of new technologies and the internet) what they (the rulers) have been doing for *centuries!*

    1. VS Brzezinski 4-Hs doctrine Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

    1. Free That’s funny That’s because you’re American and therefore stupid. We all know we’re being lied to but nobody thinks to ask why we’re being lied to? Well, I think I can answer why, the biggest clue is before us everyday, and that’s…?
      “For all Western governments and media to be following the same scripted lies (unprecedented in history) we must know it’s leading to something huge!“

      Well, after thinking of a million scenarios the only one that still makes sense is…
      The US has known for many years their economy had to collapse and they’ve planned for it. They’ve been printing more and more dollars and increased its military spending yearly, even with the collapse of the USSR the US continued to build more military and gain more and more military bases across the world, we are witnessing the US at the point of no return, they have (knowingly) spent their way toward bankruptcy. Bare with me….
      They’ve had a plan for well over sixty years that if they can gain full world military dominance they can then introduce/force a single world currency (What this is ALL about) …The effect as such would see the US overnight become completely debt free (explains the enormous overspending) and would see them achieve full global military control as well as full global financial control (a very nice achievement many might argue) In other words for those people that don’t know. That effectively means ‚American Tyranny‘ and that’s no different from Nazi tyranny.

      Now, the problem Is the US dollar Is the world ‚reserve currency‘ and Is currently used by most other countries to purchase their oil/gas/energy etc, meaning that billions if not trillions of dollars are kept by countries for their energy purchasing, what that allowed the US to do Is print more and more dollars without showing the true rate of Inflation that would normally arise from such massive currency printing, but because so much of the US currency sits In vaults all over the world to purchase countries energy, It would never find its way into the actual US economy meaning the US could hold their level of Inflation right down from what It really should be.
      Here’s the huge problem we’re now seeing, countries like Russia, China, Iran, lots of Europe and many more now want to sell/buy their energy In different currencies not just the US dollar, meaning that each country who now trades in other currencies, whether It be the Yuan, the Ruble or the Euro will start to dump the dollars they held for energy purchasing and will replace them with the currency they’re going to use. The problem for the US Is when those billions if not trillions of dollars start to filter back into the US economy (as is now happening) the Inflation now explodes as It can’t be hidden anymore. It would see the likes of a loaf of bread skyrocket to over $200 and would bankrupt the United States overnight. This is exactly why we’re seeing this attempt to drag Russia Into a war because obviously, they didn’t believe Russia could become a threat to them again and they can’t force a single currency with the likes of Russia and her nuclear threat saying get lost.

      They nearly had it done with the collapse of the USSR…What a bonus that was, it meant they could do it without war!!
      But they messed that right up because they took their eye off one man – Putin.
      The United States REALLY believed they had finished off Russia after the collapse of the USSR to the point Russia could never be a threat to them again, they helped keep Russia in a state of pandemonium through Yeltsin’s reign believing they had sealed Russia’s fate to the toilet.

      When Putin came to power the US could not work him out, but when they invaded Iraq and Putin (craftily as It bought him time) did not veto them they believed they had Russia under their control and Putin was just a pushover like Yeltsin. (history will see Putin’s tactic of not vetoing the Iraq invasion as genius as it really fooled the US and that really damaged their plans)
      Because while the US was invading countries all over the world with no one to stop them, Putin was quietly building Russia an extremely effective military defense and upgraded all Russian weaponry to a level able to hold its own If not beat any nation on the planet.
      The US blind to this, carried on as they used NATO to murder Gadaffi, as they kept Iraq destabilised by transferring known terrorist commanders into Iraq from Guantanamo Bay in the hundreds to help keep it in chaos.

      They then set their sights on Syria, and were preparing for a ground invasion as with Iraq when all of a sudden Putin vetoed that action!
      That stunned the US, stopped them in their tracks and they then took a close look at Russia again.
      When the US understood how they misread Putin they then set out to demonise him in the West and globally the propaganda got so bad it could have been written by a spotty American teenager going through puberty.
      But it left the US unable to use ground troops in Syria.

      This is when we saw the US and the EU start in Ukraine, we saw the US CIA and their neo-nazi recruited thugs start the marches and protests in Ukraine.
      America, if you all remember were all upbeat about Yanukovich winning the Presidency because he had shown an interest in joining the EU, It was only when he decided to go to Russia and ask for a loan, and stated he was trying to work on a closer relationship with Russia, did all this really kick off, then these CIA-led thugs murdered people, started murdering random people at will, they bombed Kiev while claiming Yanukovich was a thief a tyrant and Putin’s puppet (yet they said none of this when he showed an interest in the EU, all these accusations only started after he asked Russia for support) they forced Yanukovich to flee to Russia in fear of his life
      They then got the parliament to impeach him/Yanukovich (who were obviously under threat to do so, as the vote came back 300+ to zero)
      The West who have caused all the trouble in Ukraine (knowingly and purposely, as Victoria Nuland’s phone call revealed to the world) blame Russia and In effect Illegally Issue sanctions against Russia for something they have not been able to prove or even attempted to prove as In reality It’s just a financial tool used many times by the US and its vassals but It shows Russia how far they’re prepared to go to force war.

      In Syria the US decided to use proxy’s in the form of terrorists, they recruited, trained, armed, paid and then sent these terrorists into Syria to murder people, everyday normal people, working people, people just like you or I, they murdered people in the streets, they took over towns and cities through Syria by murder and butchery. I remember seeing them stood on street corners dressed in black standing around burnt out cars with their rifles at their sides, there were bodies of naked raped women and their children just lying murdered on the side of the roads.
      They were the Free Syria Army, only at that time nobody knew they were recruited, trained, armed and very well paid by the US, we only found that out after Russia went Into Syria three years after.
      Yes, that’s right, the US Is responsible for all the devastation, murder, rape, and terrorism of people Just like us, they caused It purposely, and don’t forget this was all long before the so-called ISIS crossed over in from Iraq!

      This is ALL about America’s attempt at global military and financial dominance. And with this Insane EU/NATO stance, It seems that If the US collapses then so does the Euro and maybe the Pound.
      Things have dramatically changed and changed to such an extent It sees us becoming exactly what we fought two wars to prevent.
      That’s the bottom line of what we’re really facing.

      Putin knows all he needs Is time, he must avoid getting into a war with the US but never lay down to them he knows sooner rather than later It’s all got to start to collapse, so he’ll try to avoid war and let them crumble (After all Russia had to start again, they did not cause a war, they just collapsed) but the US know that’s what he’s doing, so we see them provoke and provoke Russia, they’ve non-stop encroached further and further towards Russia’s borders using NATO’s ridiculous excuse of protecting the Baltic’s from Russian aggression.
      Putin knows exactly what the US wants and has always known this was coming, everything he’s done shows this very clearly. If not for his wisdom the US would have already provoked WW3.
      If any of this had happened at any other time In history you can be positive the former USSR would have fired nuclear weapons at the US already, and with every damn right to do so.

      We’ve witnessed Putin three times clearly warn them to stop this nonsense and the US have purposely Ignored him every time. Because the US doesn’t want compromise, they don’t want talks, they don’t want peace, they must have war or collapse!
      This Is the truth no one wants to admit! You only need to remember … For all Western governments and media to be following the same scripted lies (unprecedented in history) you simply must know the reason is huge! …It Is!

      Now you’ve just read this, take a few minutes to actually think about it? think about all these actions we’ve seen over the last 20 years, actions that at the time you didn’t really understand… Bin Laden, Afghanistan, World Trade Center, Al Qaeda, ISIS, Libya, Ukraine, Iraq, Crimea, Georgian war, Syria etc while keeping in the back of your mind ‚the US must force Russia Into war to survive‘ (for all the reasons you’ve just read) and suddenly it all makes 100% sense.

    2. Free That’s funny Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

    1. rubles and dollars are more virtual money than Bitcoin is. fiat currencies are created out of thin air & backed by nothing but blind faith.

    2. TaHkyIO_Kak_Mory Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

    1. Zee Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

    1. Don’t Choke The Chicken! Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

    1. don’t you understand that one world digital currency is just a step to a chipped population where everything you use will be controlled – food, water, air

    2. maschinemademan Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

  4. no one held legally responsible for a break down or „bubble“…sounds as if bitcoin has taken a cue from central bankers and wall street..

  5. Why is it always the American that has no idea what they’re talking about yet they always want to talk?
    It’s like my good ole mum used to say ‚Americans have the brain function of speaking while knowing nothing.‘

  6. I’m afraid that Putin is right, once again.

    Real money e.g gold and silver have intrinsic value. Bitcoin and any other crypto-currency don’t have intrinsic value. It’s a scam

    1. Value is derived from the collective agreement.
      Gold holds it’s value because we all collectively agree: Yeah, it’s a rare precious metal. With that same mentality, one can realize why Bitcoin is also existing as highly valuable… and rising, due to more and more individuals agreeing on that value. Where gold is a physical existence, the rarity is essentially „hard coded“.
      However, should say, gold suddenly be manifested in a chemistry lab.
      The value would either drop, if anyone can create it.. or boom even higher if kept in the hands of a few that control that creation.

      This is how Bitcoin has risen in value so fast.
      The algorithms give it existence as „hard coded“ also.. a digital existence.
      Mining originally and now as Investment, thus value rises and rises.
      However, one can essentially „create“ a new crypto in the form of an ICO.
      That value however, goes back to the same philosophy.
      It’s value is measured in the minds of the collective and how they see it becoming an asset and a form of exchange for value within our systems.

      This is why cryptocurrency is both a positive and a negative.
      Without regulation of what exist. Without regulation on what can fail.
      It becomes highly volatile, specially when compared to the standard.
      People should not be quick to jump and say „they fear it thus all they say is wrong“. Don’t be so ignorant.

      They do fear it yes, because it’s disrupting the standard.
      However, a world where a currency can come and go and take with it people’s livelihoods or take down economies and/or fund systems which are counter productive to human existence… etc etc…

      Well, something like that can only really be seen as a bubble.
      Regardless of the value… The bubble WILL burst.. and with it.. Chaos ensues.
      Cryptocurrencies cannot have longevity and supersede in their current form.
      They need some type of standard(s) to adhere to for stability and mass adoption.

      Because currently.. it ALL exists. Scam coins. Inflated coins. Coins which will be no more tomorrow. Coins in the control of „evil“. Coins manipulated by few. Coins promising greatness, yet destined to fail. Who in their right mind (apart from those looking to gamble) would accept that as a perfect system.

      This was simply my opinion.
      That being said.. while it’s hot.. make gains.
      It is though.. a gamble. Even Bitcoin.

    1. Romana Free Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

    2. I consider BitCoin a big scam, like those ponzi schemes. On top of that it is completely anonymous, whether one buys or sells, so it is a safe haven for criminals and the likes. Plus BitCoin is on a so called black web, meaning it is untraceable. I don’t care what anyone says, VVP is right.

  7. Poor politic, he is afraid because they arent on control of the cryptocurrencies.. therefore there is no way they can lurk us through that way, so cute 🙂

    1. fahik Bit coin hahahahah , what a joke to take money away from country’s and store it in USA ! I it better plan than fake USA bare bonds because you do not even buy anything , with bit coin you just give your money away and get some virtual claim that you own one of something that it is worth 5000$ per piece ?!?!? What a load of bullshit , there is no easy money , someone on the end will pay the price and the owner of the bit coin will eventually buy the USA FED bare bounds with that money and say bit coin is worth 0$ ! This is the case ! Bit coin owners are the same people who made 2008 financial crisis and now they are broke and have a new scam how to plunder stupid sheep people !

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