Deputy Minister of Finance of Russia Moiseev called cryptocurrency evil and warned about the risk of investing in it

Russian Deputy Finance Minister Alexei Moiseev urged citizens not to invest their money in cryptocurrency, calling this type of asset “generally evil.” According to him, investing in cryptocurrency is extremely dangerous and risky.

“Crypto is generally evil. I think that people who invest their savings there take a very big risk. This is our position, common with the Central Bank of the Russian Federation,”— declared official during the RBC conference “Banks. Transformation. Economy. 2.0″.

At the same time, Mr. Moiseev emphasized that “there may be separate situations” in which the crypt can be used. This, in particular, is about the use of cryptocurrency in foreign trade, Moiseev noted and recalled that the relevant bill is currently being considered by the State Duma Committee on the financial market.

In November 2022, the head of the Central Bank, Elvira Nabiullina said that cryptocurrency is extremely opaque and carries risks of volatility. She publicly opposed the use of private cryptocurrency in payments and settlements. Ms. Nabiullina noted that the main minus cryptocurrencies – that in operations with it “it is not clear who is responsible for what.”

In September last year, the Central Bank announced that the regulator was against the legalization of crypto-exchanges, exchangers and payments in cryptocurrency within the country, but did not exclude the introduction of permission for cross-border transactions.

Alexander Kislov