The Central Financial institution of the Russian Federation put ahead a suggestion to ban the issuance, mining and circulation of cryptocurrencies in Russia. As financial institution representatives mentioned, one shouldn’t ignore a rise in dangers related to crypto belongings in Russia in opposition to the background of the truth that the Russian ruble just isn’t a reserve foreign money.
A report, which was revealed on the web site of the Central Financial institution, highlights the necessity for a couple of amendments to the Russian laws. Amongst different issues, amendments recommend banning the issuance, mining and change of cryptocurrencies. The regulator additionally believes that banks shouldn’t make investments their funds in digital belongings, whereas operations to purchase and promote cryptocurrencies for actual cash ought to be blocked.
“To introduce a ban on investments by monetary organizations in cryptocurrencies and associated monetary devices, in addition to on using each Russian monetary intermediaries and the monetary infrastructure of Russia to hold out transactions with cryptocurrencies and set up legal responsibility for violation of this ban,” the report from the Central Financial institution mentioned.