ussian Central Bank warns against using Bitcoin

Russia’s top financial regulator is warning citizens against using virtual currencies, as they could be tied to gangs into money laundering and terrorist financing. The Central Bank warning follows bans by China and Europe on “dubious” cryptocurrencies.

The Russian Central Bank (CBR) issued a statement late Monday warning that virtual currencies, or“money surrogates” are illegal under Article 27 of the Federal Law “On the Central Bank of the Russian Federation”.