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Cryptocurrencies Spread May Threaten Russian Financial Stability

© Flickr / AntanaBitcoin is a decentralized form of digital currency, created and held online all over the world. The cryptocurrency is used to buy things electronically.
Bitcoin is a decentralized form of digital currency, created and held online all over the world. The cryptocurrency is used to buy things electronically. - Sputnik International
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The spread of cryptocurrencies can force legal money from the market, creating a threat to the financial stability of Russia, Alexander Bastrykin, the head of the Russian Investigative Committee, said in his article published Monday.

MOSCOW (Sputnik) — Since the inception of the cryptographic payment system, it is projected to replace gold in the near future.

"As a result of the wide distribution, these [8x] currencies can force legal money from the market, which threatens the financial stability of the state," Bastrykin wrote in the article for Russia's Kommersant-Vlast magazine.

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