Ramzan Kadyrov, the head of Chechnya, made some unpleasant statements about digital currencies as Chechnya residents are becoming attracted to cryptocurrencies. He asserts that crypto is presented as the new gold by the media, giving rise to what he calls Bitcoin "fever," as Pravda reported.
Kadyrov warned that surplus profit is associated with big risks. He also stated that Bitcoin's value had depreciated by half, a comment that can be argued to be false by anyone who can search on Google.
He stated that everyone fantasizes about effortless Money. This builds a fallacious promise of wealth that digital currency does not and has never offered. He noted how troubled he is about the moral side of the investment. Why would people who invest in crypto have to wait for the value to grow multiple times? When they did no hard work to earn the profit.
Lately, Russia passed its first major regulation on digital currency, despite its central bank still treating it as an illegal activity.
Source: Cointelegraph
