The Central Bank decided to ban cryptocurrencies in Russia
The Central Bank proposes to introduce a ban on the issuance, circulation and exchange of cryptocurrencies, as well as on the organization of these operations in Russia. Relevant proposals are contained in the regulator's report for public consultations. According to the regulator, cryptocurrencies can pose a threat to the ruble and be used to support crime.
To prevent this, the regulator wants to introduce liability for crypto payments, to actually ban the operation of all crypto projects in Russia, to prohibit financial organizations from investing in cryptocurrencies and related financial instruments. The Central Bank also proposes to ban cryptocurrency mining. True, the very possession of cryptocurrency for Russians, the Central Bank proposes not to consider it a violation - provided that all operations are performed abroad. “Restrictions, prohibitions on the ownership of cryptocurrencies are not planned, but restrictions are planned for the use of the Russian financial infrastructure,” explained Elizaveta Danilova, DIRECTOR of the financial stability department of the Central Bank of the Russian Federation, adding that transactions with cryptocurrencies can be carried out in foreign jurisdictions. BLOOMBERG names another reason why the Central Bank decided to seek a complete ban on cryptocurrencies: according to agency sources, this was done under the influence of the FSB. Intelligence agencies are promoting the idea of a complete ban to exclude the possibility of donations to the opposition, undesirable organizations and the media, which are included in the register of foreign agents, the agency's interlocutors say. In response, the Central Bank recalled that the regulator has long been skeptical about cryptocurrencies. “This is our position. But at the same time, we are pleased if other bodies also share it, ”said Danilova.The Central Bank proposed to ban the circulation and mining of cryptocurrencies in Russia Finance