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Central Bank Governor of Kazakhstan Says Bitcoin May Be Deemed a Ponzi Scheme

Avatar Jayanand Sagar 6 years ago

Kazakhstan FlagIt wouldn’t be an ordinary day without another world government coming out against digital currency bitcoin. This time around it’s the Central Bank of Kazakhstan, with its governor making some interesting comments.

Kairat Kelimbetov, the bank’s governor, said that bitcoin may be deemed as a ponzi scheme by the central bank at a press conference Tuesday in Almaty.

“The issue is rather complicated. Some claim the currency is a good tool of money laundering and an absolute evil. That’s why some monetary authorities, like those in China, have banned Bitcoin,” said Kelimbetov, incorrectly (China has not banned bitcoin). “The Kazakhstan’s Central Bank has no official stance yet (…) however, this year we will decide on whether the currency system shall be deemed as a ponzi scheme.”

Vice Minister of Finance in the country Ruslan Dalenov suggested that if bitcoin continues to gain traction in business, there would be very little work left for bankers. (via Tengri News)

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