{"id":14347,"date":"2021-11-30T18:19:00","date_gmt":"2021-11-30T17:19:00","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=14347"},"modified":"2021-11-30T18:19:15","modified_gmt":"2021-11-30T17:19:15","slug":"president-putin-says-the-risks-of-crypto-are-very-high","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/president-putin-says-the-risks-of-crypto-are-very-high\/","title":{"rendered":"President Putin says the risks of cryptocurrency are very high"},"content":{"rendered":"\n
Russian President Vladimir Putin expresses his displeasure saying cryptocurrency bears high risk<\/h5>\n\n\n\n
\"President
President Putin says the risks of cryptocurrency are very high<\/figcaption><\/figure>\n\n\n\n

“…the risks are ver high…”-President Putin <\/h2>\n\n\n\n

At the “Russian Calling” investment gathering in Moscow on Tuesday, Russian President Vladimir Putin expressed his displeasure. The president made the following statements, as translated by Cointelegraph, according to local news outlet lenta.ru\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>:<\/p>\n\n\n\n

“It is not backed by anything, [and] the volatility is colossal, so the risks are very high. We also believe that we need to listen to those who talk about those high risks.”<\/p><\/blockquote>\n\n\n\n

Putin advocated more oversight and regulation of cryptocurrencies, pointing out that digital currencies<\/a> are gaining traction in a number of countries around the world. Cryptocurrency regulation in Russia is still in its early stages. <\/p>\n\n\n\n

Although the government is considering launching a central bank digital currency, the digital ruble<\/use><\/svg><\/span><\/a> will require changes to at least eight federal laws and five legislative codes.<\/p>\n\n\n\n

Furthermore, there is no cryptocurrency mining regulation in the country. Some have claimed that Russia generates $2 billion in crypto mining <\/use><\/svg><\/span><\/a>earnings each year but that no taxes are paid on it. Cryptocurrency use has exploded among ordinary Russians as a result of the lack of a regulated framework, with annual transactions exceeding $5 billion<\/use><\/svg><\/span><\/a>.<\/p>\n\n\n\n

Cryptocurrencies are also gaining popularity in other countries of the former Soviet Union. Kazakhstan has surpassed China as the world's largest Bitcoin (BTC<\/use><\/svg><\/span><\/a>) miner in terms of hash rate, and the country's president is attempting to raise more revenue<\/use><\/svg><\/span><\/a> from such operations to help pay for the country's bills. <\/p>\n\n\n\n

The government of Ukraine is actively promoting lawful crypto activities<\/use><\/svg><\/span><\/a>. The city of Olsztyn <\/use><\/svg><\/span><\/a>in Poland began using the Ethereum (ETH<\/use><\/svg><\/span><\/a>) blockchain for emergency services last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Russian President Vladimir Putin expresses his displeasure saying cryptocurrency bears high risk “…the risks are ver high…”-President Putin At the “Russian Calling” investment gathering in Moscow on Tuesday, Russian President Vladimir Putin expressed his displeasure. The president made the following statements, as translated by Cointelegraph, according to local news outlet lenta.ru : “It is not […]<\/p>\n","protected":false},"author":29,"featured_media":14348,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5392,5628,5519],"class_list":["post-14347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cryptocurrency-2","tag-putin","tag-russia-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/President-Putin-says-the-risks-of-cryptocurrency-are-very-high.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/14347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=14347"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/14347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/14348"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=14347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=14347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=14347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}