Bolivia Calls Cryptocurrency ‘Pyramid Scheme,’ Arrests Advocates

in news •  8 years ago 

Bolivia lawmakers have enacted a crackdown on cryptocurrency use, arresting 60 people at a workshop and describing it as a “pyramid scheme.”

In a statement issued by the country’s Financial System Supervision Authority ASFI, its head Lenny Valdivia Bautista said it was necessary to “remind” the population that virtual currency of any kind is “prohibited.”

Read full story: https://goo.gl/FqMcjZ

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Could other countries follow suit on this? Think it would actually push up demand for cryptos considering how worried the financial institutions are about it.