Chechnya Leader Kadyrov Admitted Buying Bitcoin, Urged Not to Ban Cryptos

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The leader of Chechen Republic, which is a part of Russia, lose all the money that they piled into cryptos.

He also emphasized that the market is full of fraudsters, so everybody should be meticulous attentive when dealing with bitcoin.

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Legalization is Good, Banning is Negative

Additionally, Kadyrov said that he supports the legislation of cyber money. However, he believes that bitcoin and its ilks should not be forbidden.

According to his words, it is crucial to safeguard people from the pyramid, Ponzi, and other deceitful schemes.

Currently, bitcoin and crypto issues are not settled by the Russian government, but the country’s lawmakers are working on the draft law, the initial version of which has recently been published by Russia’s Ministry of Finance.

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