Qiwi, a Russian payment system operator, plans to begin issuing a cryptocurrency called “bitrubles” in 2016 and has met opposition from local officials, according to Kommersant, the business daily, and PRIME, a Russian news service. Officials fear the cryptocurrency could fund terrorism and money laundering. Sergei Solonin, CEO of the company, said Qiwi has already started designing the “bitruble” and the project may require several hundred million rubles. Lawyer: Central Bank Must Authorize Currency Only the central bank is authorized to emit money in the country, according to law firm Herbert Smith Freehills’ advisor Stanislav Grigoryev. “That is why they cannot launch […]
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