Home Blockchain News Bitcoin Can Wreak Havoc by ‘Ruining’ Governments: Senior Russian Official

Bitcoin Can Wreak Havoc by ‘Ruining’ Governments: Senior Russian Official

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By CCN: A top official with Russia’s State Duma (the Russian Parliament) warned that bitcoin has the capacity to ruin governments because it could facilitate the offshoring of massive amounts of money. Nikolay Arefyev, the deputy chairman of the State Duma committee on economic policy, sounded the alarm at a May 20 press conference, Rambler reported. Official: We don’t want capital exodus from Russia Specifically, Arefyev warned that cryptocurrencies could lead to Russia’s collapse because it could trigger a mass-withdrawal of capital to offshore accounts. “If cryptocurrency worked, we would be completely ruined today because all financial flows would be

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* First published on ccn.com

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