Bank of Russia refuses to classify crypto investors by the level of financial literacy
The regulator noted that because of the speculative nature of the crypto market, depositors will not be able to avoid risks
![Bank of Russia refuses to classify crypto investors by the level of financial literacy](https://storage.getblock.net/source/1/Ob1b4TEzZA7mstCb9plhdReIYmXf8Cx9.webp)
21.09.2022 - 11:15
215
2 min
0
What’s new? The Bank of Russia did not support the proposal to classify cryptocurrency investors by their level of financial literacy, TASS reports. According to the statement of the Central Bank’s representative, “the rate of cryptocurrencies is determined mainly by speculative factors,” so the experience of investors will not help to avoid risks. Also, the regulator once again noted that it does not support the admission of private digital assets to the financial market of the Russian Federation and their use as a means of payment.
What happened before? First Deputy Governor of the Bank of Russia Vladimir Chistyukhin said that the Central Bank still feels “very much skepticism” about the legalization of private cryptocurrencies. The Central Bank believes that the market of the Russian Federation should develop through the digital ruble.
Elvira Nabiullina, head of the regulator, also noted that the Central Bank supports cross-border payments with the digital ruble, as well as cryptocurrencies, which, however, should not penetrate the country’s financial system.
The Central Bank also said that about 60% of illegal financial transactions or payments in favor of Ponzi schemes are carried out in cryptocurrencies.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024