Andrei Svintsov, the Russian Lawmaker Says Bitcoin is a CIA Plot


Andrei Svintsov, the Russian Lawmaker Says Bitcoin is a CIA Plot

A conspiracy theory that none would believe has come from Andrei Svintsov, the Russian lawmaker belonging to the Liberal Democratic Party of Russia. He heavily came up against the virtual currency and claimed that Bitcoin and other digital currencies on the grounds the technology is part of a US plot to undermine the country’s efforts internationally.

Russian government which earlier passed several anti-Bitcoin remarks is also mulling a plan to ban it outright. The statement from Andrei Svintsov came in the same discussion wherein the legislators are talking and understanding the virtual currencies including of Bitcoin. The conspiracy theory is new because nowhere such an opinion ever expressed.

Addressing the ongoing debate in Russia over whether Bitcoin and digital currencies should be banned as part of a broader effort to stop capital flight Andrei Svintsov claimed that CIA is known for creating such things that can hamper the Russia’s economic activities. Bitcoin according to him has disruptive impact on the national currencies.

Andrei Svintsov’s remarks count as some of the more extreme to emanate from the discussion as he says that all these cryptocurrencies were created by US intelligence agencies just to finance terrorism and revolutions. He went on to explain how cryptocurrencies have started to become a payment method for consumer spending.

He also cited reports that terrorist organizations are seeking to use the technology for illicit means. Looks like it is his personal opinion on Bitcoin as no such statements have come from the federal legislature of Russia. Thus, in all probabilities it is all figment of imagination of Andrei Svintsov who has been known in the country to come with wild allegations.

Andrei Svintsov is Known for Wild and Imaginary Conspiracy Theories

Russia in fact has some supporters of Bitcoin as well, particularly, when its national economy is under stress and the national currency has lost its value to great extent. There are some positive reactions as well from Russian authorities; the chairman of the State Duma Committee on Financial Markets says that she opposes criminal penalties for Bitcoin use.

Andrei Svintsov who has also been associated with movements such as removing tobacco and alcohol products removed from the windows of retail outlets. He has always been known for wild conspiracy theories as well and this has not even surprised the Bitcoin supporters in Russia as they all understand where he comes from.

To contact the reporter of this story: Deepak Tiwari at