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IPFS News Link • Russia

Senior Official In Russian Parliament Says That Cryptos Can Ruin Governments

•, Tyler Durden

Nikolai Arefiev, a member of the Communist Party of the Russian Federation and vice-chairman of the Duma's committee on economic policy, innovative development and entrepreneurship, claimed that cryptocurrencies were created in order to hide large offshore assets from the government.

If cryptos such as bitcoin (BTC) had emerged by 1994, Russia would have been "fully destroyed" so far because it would have lost all its capital offshore, Arefiev stated, speaking at a recent press conference of local media agency, National News Service.

The 70-year-old official has further suggested that it is useless for a government to attempt to be involved in cryptocurrencies' operations, emphasizing that those jurisdictions that decided to ban cryptocurrencies have chosen the easiest way to protect their capital.

1 Comments in Response to

Comment by Ed Price
Entered on:

Almost all the governments of the world are dictatorships, or close. The dictators live high and wild on the money they collect from the people. Bitcoin and altcoins would make all the people their own dictators of their own governments, the way it should be.