RATE Group | Cryptocurrency Investors Spend Money on Candy Wrappers, Russian Official Says
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Cryptocurrency Investors Spend Money on Candy Wrappers, Russian Official Says

27 Jul Cryptocurrency Investors Spend Money on Candy Wrappers, Russian Official Says

Posted at 01:12h in Cryptocurrency News by

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Cryptocurrency investors are wasting their money on candy wrappers, according to the head of the State Duma Committee on Information Technologies and Mass Communication Leonid Levin.

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Leonid Levin, the Chairman of the Duma Committee responsible for information technologies and mass communications, criticized cryptocurrencies but confessed that the citizens of the Russian Federation could buy any currencies they want, as there is no particular legal restrictions to that effect, a local outlet reports.

“What is worth buying is another question. In essence, you buy candy wrappers. You buy trust in some kind of software, that can save and multiply your capital,” he said.

Levin is concerned that cryptocurrencies are easy to get and easy to lose and there is no one to be held responsible for that, no one to guarantee payments and settlements with digital assets.

Currently, there are three draft bills on cryptocurrencies, mining, and ICO. The debates on the proposed legislation will…

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