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Cryptocurrencies Can Ruin Government’s – Senior Russian Official ‘Nikolai Arefiev’.

In line with a recent ‘news report‘ published by native media outlet ‘Rambler’, a senior official within the Russia’s parliament, the State Duma, has argued that cryptocurrencies can ruin the governments.

A member of the Communist Party of the ‘Russian‘ Federation & vice-chairman of the Duma’s committee on economic policy, innovative development and entrepreneurship named ‘Nikolai Arefiev’’, stated that the cryptocurrencies were created so as to cover massive offshore assets from the Govt.

If cryptos like Bitcoin [BTC] had emerged by 1994, ‘Russia‘ would had been “fully destroyed” up to now as it would have lost all its capital offshore, Arefiev added, speaking at a recent conference held with the native media agency, National News Service.

The 70-year-old ‘official‘ has additionally steered that it’s useless for a government to aim to be associated with cryptocurrencies’ operations, outlining that those jurisdictions that determined to ban cryptocurrencies have chosen the simplest ways to shield their capital.

Also, Arefiev ‘warned‘ the general public against speculative capital, claiming that it accounts for above 90% of the world’s economy. In line with the official, Bitcoin may be a a part of those speculative schemes, that make “money from money” and don’t really produce any products.

The cryptocurrency ecosystem still remains ‘unregulated‘ within ‘Russia‘.

Recently, Russia’s leading bank, Sberbank, ‘requested‘ a user to provide info on his financial income from operations involved with cryptocurrencies. Last week, Russian prime minister and former president Dmitry Medvedev ‘claimed‘ that crypto regulation isn’t a priority for the Russian government since crypto assets “have lost their popularity.”

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