Russia, following China, wants to ban cryptocurrency investments

Briefly:

  • Reuters reporters have access to reports of the Central Bank of Russia
  • According to the document, the regulator advises to introduce a ban on crypto investments
  • If accepted, local investors will not be able to invest in digital assets

The Central Bank of Russia has again recalled its hostile stance towards the cryptocurrency industry. In new reports, they recommended that the government prohibit local investors from investing in digital assets. Bankers motivate this decision with traditional excuses about risks and financial instability.

Note that the report was not officially released – it was reported by Reuters reporters. But the central bank has regularly criticized digital currencies in the past.

Sources familiar with the case explained that bankers are negotiating with market participants and experts on how best to implement the ban mechanism. If the plans come true, Russia will ban investors from working with digital assets.

Russia and cryptocurrencies

Russia has sent conflicting signals on cryptocurrency issues more than once. For some time, on the sidelines, they discussed the idea of ​​a complete ban, but the matter did not come to concrete actions. Moreover, the Deputy Minister of Finance of the Russian Federation Alexei Moiseev recently assured that they would not follow the path of China and completely prohibit this area. Some local banks are introducing services with cryptocurrency transactions.

Yesterday, CoinCub analysts presented the quarterly ranking of countries that are friendly to cryptocurrencies. Russia took the penultimate place in it, China – the last, and Ukraine was on 100 – th position.

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