Reuters: The Central Bank of the Russian Federation plans to ban cryptocurrencies in Russia
The regulator sees them as a threat to financial stability in the country because of the rise in the number of virtual asset transactions
17.12.2021 - 07:10
What’s new? The Central Bank of Russia is negotiating with cryptocurrency market participants and experts on a possible ban on investments in digital assets. The regulator is concerned about the risks to the country's financial stability because of the increasing number of transactions with virtual assets, Reuters reports, citing its own sources.
Material on the Reuters website
What is known about the Bank of Russia's plans? One of the Reuters sources claims that at the moment the regulator's position is a complete rejection of cryptocurrencies. However, another source knows that the restrictions are unlikely to affect the owners of previously purchased digital assets.
What do the experts say? The analysts interviewed by Forklog argue that there is no point in a complete ban on cryptocurrencies in Russia. In this case, the owners of digital assets will go to the shadow market, while the authorities will be deprived of the opportunity to tax crypto operations.
Material on the Forklog website
What events preceded it? On Thursday, December 16, Anatoly Aksakov, the head of the State Duma Financial Markets Committee, said that the authorities are discussing various options for regulating the crypto market. Among them is a complete ban, but other options are also being considered, Interfax reports.
Material on the Interfax website
For example, according to Aksakov, the government is considering legalizing crypto exchangers and exchanges to make market transactions transparent from a taxation point of view. The official added that the authorities plan to end all discussions on the issue in the spring session of 2022.
Why Satoshi Nakamoto’s technical manifesto for a decentralized money system matters
Oct 31, 2022
How to track fluctuations correctly and create an effective income strategy
Sep 13, 2022
Review of the most profitable offers from proven trading platforms
Aug 29, 2022
The Ethereum Foundation team has published a breakdown of major misconceptions about the upcoming network upgrade
Aug 18, 2022
What benefits the exchange offers, and what else is in the near future
Aug 4, 2022
Let's take a look at the varieties of this new form of management and its earning potential
Aug 1, 2022