Russia’s Putin says crypto-currencies pose risks for households, businesses

SOCHI, Russia (Reuters) – President Vladimir Putin said on Tuesday Russia should set up a regulatory base for crypto-currencies to protect its citizens and businesses from risks posed by virtual currencies.

“The usage of crypto-currencies carries serious risks. I know the central bank’s position on that, we have discussed it several times with the central bank’s governor,” Putin said.

Putin said virtual currencies could be used to launder money, evade taxes and finance terrorism.

(Reporting by Denis Pinchuk; Writing by Andrey Ostroukh; Editing by Jack Stubbs)