The initiative was proposed by the Central Bank.
In Russia, they may completely ban the use cryptocurrency. The Central Bank has officially proposed such an initiative. The document should now «discuss».
The Central Bank warned private investors that they could completely lose their investments, and the cryptocurrency rate is prone to fluctuations. He supposedly often depends on the information background. In particular, statements by public figures that can flood the market in a short time.
Growing interest of Russian citizens, a significant amount of investments and high risks of transactions with cryptocurrencies create potential systemic threats. The status of the Russian ruble, which is not a reserve currency, does not allow for a soft approach in Russia and ignoring the increase in risks,
the report says.
What the Central Bank of Russia proposes
- Introduce liability for violation of the ban the use of cryptocurrency as a means of payment for goods or services that Russians and companies sell and buy;
- prohibit the circulation and exchange of cryptocurrencies in Russia and establish liability for violation of this prohibition. In particular, the bank proposes to develop mechanisms for identifying transactions and persons who carry them out;
- to appoint a body that will monitor these activities.