Another attempt to shut down Bitcoin and cryptocurrencies just came out of Russia. Their Central Bank is saying that since Bitcoins has been rising so fast, it is likely a pyramid scheme and should be protected against for the Russian consumer.
Here are 2 quotations:
Speaking at a conference on Tuesday, Reuters reports that Shvetsov cited the "unreasonably high risks" involved in cryptocurrency investment as a reason for the proposed measure, adding: "We cannot give direct and easy access to such dubious instruments for retail (investors)."
"Shvetsov further added that, with bitcoin being an asset that can generate high returns very quickly, it shows signs of being a pyramid scheme."
What government is next? Any takers?
Source:
https://www.coindesk.com/russias-central-bank-backs-move-to-block-bitcoin-websites/