Russia’s central bank shares JPMorgan Chase -amp; Co. Chief Executive Officer Jamie Dimon’s skeptical view of cryptocurrencies and initial coin offerings, signaling that not all Moscow authorities are convinced the new technology is a good idea.

Whether Russia should legalize cryptocurrencies remains a big question, Governor Elvira Nabiullina said September 14 at a banking congress in Sochi. At the same event, her deputy warned of a pyramid scheme, invoking China’s decision this month to issue a blanket ban on ICOs.

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