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Ban of cryptocurrencies in Russia will not solve fraud problem — Association

RAEC believes the ban on cryptocurrencies circulation will not solve existing fraud and illegal action problem but, on the contrary, will make their control more complicated, because the market activity will be in the ‘gray’ zone

MOSCOW, January 28. /TASS/. The ban on cryptocurrencies circulation in Russia will not solve problems with fraud and illegal action but will make control over them more complicated, the Russian Association of Electronic Communications (RAEC) told TASS.

"RAEC believes the ban on cryptocurrencies circulation will not solve existing fraud and illegal action problem but, on the contrary, will make their control more complicated, because the market activity will be in the ‘gray’ zone," RAEC said.