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Russia to ban exchanges selling crypto-currencies, calls them "dubious"

Bitcoin, the most well-known virtual currency that emerged in mid-2010, last traded at around $4,807, up from its initial price of less than $1

Reuters  |  MOSCOW 

Russia will block access to websites of exchanges that offer crypto-currencies such as Bitcoin, Russian Central Bank First Deputy Governor Sergei Shvetsov said on Tuesday. He called them "dubious". Russian financial authorities initially treated any sort of money issued by non-state approved institutions as illegal, saying they could be used to launder money. Later the authorities accepted the globally booming market of crypto-currencies but want to either control the turnover or to limit access to the market "We cannot stand apart. We cannot give direct ...

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First Published: Tue, October 10 2017. 15:06 IST
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