[2017-08-29] Russian Regulator: Bitcoin Should Be Limited to 'Qualified Investor

[tyz]

Russian Regulator: Bitcoin Should Be Limited to 'Qualified Investors'

Russia's deputy finance minister, Alexei Moiseev, has spoken out on how he believes cryptocurrencies should be regulated in the country.

According to reports issued by RT yesterday, Moiseev suggested in a televised interview that bitcoin should not be classified as a currency, but rather as a property or asset.

Moiseev further stated that bitcoin was a high risk "financial pyramid" and that, in order to protect consumers, bitcoin exchange should be performed only by "qualified investors" on the Moscow Stock Exchange. As such, "ordinary people" would be prohibited from buying and selling the cryptocurrency.

https://www.coindesk.com/russian-regulator-bitcoin-limited-qualified-investors/

[bbc.reporter]

If they do that then bitcoin will lose its real meaning and purpose. Satoshi started it as an open source project and to be a P2P payment system. They have no right to control it and play with it like their toys in the rigged banking system.