‘Only professionals should trade in crypto-currencies’

MOSCOW: Russian Finance Minister Anton Siluanov said on Monday that crypto-currencies should be traded only by professional investors, not in the mainstream.

“Professional market participants should work with crypto-currencies, not ordinary people,” Siluanov said in an interview with Rossiya 24, a Russian state TV channel.

Russian authorities agreed in October to regulate the crypto-currency market and pledged to set out how this regulation would work by the end of the year.

Bitcoin, a well-known virtual currency which emerged in mid-2010, is increasingly popular worldwide as it promises substantial profits.

One bitcoin last traded at around $14,200, up from its initial price of less than $1.  

Published in The Express Tribune, December 26^h, 2017.

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