The Central Bank of Russia has calculated the volume of transactions in the country's cryptocurrency market

According to the regulator, the figure is $5 billion a year

27.11.2021 - 08:30

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What’s new? The Central Bank of Russia has published a detailed review of financial stability for the 2nd and 3rd quarters of 2021. Among other data, the report includes figures on cryptocurrency transactions made by users from Russia.

The full version of the CBR report

What important data is contained in the review? According to the regulator's research, the total volume of transactions made with digital assets by Russian residents is $5 billion per year. The country leads the way in the number of visits to the Binance cryptocurrency exchange, and Russian citizens are among the most active participants in the crypto market.

However, the regulator notes that the use of digital assets poses significant risks to the country's financial system. The anonymity of cryptocurrencies may lead to the massive use of assets by criminals for money laundering and terrorist financing.

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