… Compared bitcoin with the MMM

Moscow. September 27. INTERFAX.RU – the Minister of economic development of the Russian Federation Maxim Oreshkin first among senior officials compared the high demand for the cryptocurrency with the most famous Russian financial pyramid MMM.

“What we see, for example, with bitcoin, this wave of information surrounding this story, the dedication of citizens who are not qualified investors, is a danger, because if you look at the dynamics of the value of bitcoin, it is very similar to the dynamics of the value of MMM shares,” said Oreshkin, speaking in the Federation Council.

“There are very high risks for those who invest in it. The government can’t protect these people, they are completely at your own risk. I just urge everyone to very carefully treat such stories,” he added.

“From the point of view of technology need to be at the forefront of their development, but from the point of view of financial instruments need to be very careful,” – said the Minister.

In late August, the Finance Ministry has proposed to allow transactions with cryptocurrencies in Russia only qualified investors. “Of course, we want to make sure that people who are qualified investors and want to invest, think that they earn money – please, via Moscow stock exchange in order to protect the rights of buyers and sellers”, – said Deputy Finance Minister Alexei Moiseev. Later, he said, that any payments in cryptocurrencies in Russia is illegal.