2018-01-25 17:19:00

Patriarch Kirill alarmed by spread of cryptocurrencies

Moscow, January 25, Interfax - Patriarch Kirill of Moscow and All Russia is concerned about the cryptocurrencies and believes the state needs to protect people from risks associated with those transactions.

"So-called cryptocurrencies, particularly bitcoins, have recently become widespread in today's world. People mortgage and sell their property to make fast money by buying cryptocurrencies," he said at the Federation Council at the 26th International Christmas Readings on Thursday.

Television shows the fast growth of the bitcoin against the dollar and "people go mad, everyone says, what am I doing, what am I waiting for, I need to act, I need to buy bitcoins, and people buy them, mortgaging their property, and then the bitcoin collapses and people understand that they did not win anything, but lost everything they had," he said.

The patriarch said the Church's task is to educate people "not to be enslaved by their passions and to be willing to do righteous work, which, of course, should be well paid, but the state in this situation should protect people from excessive risks and even direct deceit, including through legislation," he said.

He called on every member of the parliament to think about the neediest people, "heeding the voice of conscience, to do everything possible to show support and adopt legislative initiatives aimed at taking care of people, protecting traditional moral values in the life of society, assisting those who have no defenders, assistants, no hope except for the state and the Church."