The Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitoring) has come out against the free exchange of cryptocurrencies on Russian soil, local news outlet Bits.media reports. Speaking at the congress of the Association of Russian Banks (ARB), Rosfinmonitoring deputy-head Pavel Livandy expressed his views that cryptocurrencies are high-risk, speculative assets that do not have real value.

Here are his exact words: The practice of free exchange of cryptocurrencies is not used anywhere in the world, even in jurisdictions with less strict regulations. The exchange only takes place through special exchanges which have pre-verified the identity of the person performing… This story continues at The Next Web Read more from thenextweb.com…

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