GENERICO.ruWorldReuters: Central Bank plans to ban cryptocurrencies in Russia

Reuters: Central Bank plans to ban cryptocurrencies in Russia


MOSCOW, Dec 16 The Bank of Russia intends to ban investment in cryptocurrencies in the country due to risks for financial stability, Reuters reported, citing sources close to the regulator. According to one of the agency's interlocutors, the Central Bank is discussing with market representatives and an expert a possible ban on cryptocurrencies. If it is adopted at the legislative level, it will apply to new purchases of cryptoassets and will not affect transactions already carried out. Another source announced the regulator's desire to “completely abandon” all cryptocurrencies. The Central Bank did not comment on the agency's information, but announced the preparation of an advisory report to voice its position on this issue. The Bank of Russia legalized cryptocurrency last year, while banning its use as a payment tool. Head of the Binance crypto exchange Changpeng Zhao: do not buy what you don’t understand At the end of autumn, the regulator estimated the annual volume of transactions based on a survey of large banking organizations Russians with digital assets of five billion dollars (about 350 billion rubles). The Central Bank noted that Russian users are one of the most active participants in the digital currency market. Russia is among the leaders in the number of visits to digital currency exchanges. In September, the regulator announced plans to expand the ban on the use of cryptocurrencies in Russia, as well as introduce administrative and criminal liability for violating restrictions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS in this category