The Central Bank of Russia has refused to provide services related to crypto assets
The regulator stressed that dealing in cryptocurrency has high risks and does not meet the demands of the investors in the stock market
![The Central Bank of Russia has refused to provide services related to crypto assets](https://storage.getblock.net/source/1/stCgEDq7cU0sBxTArMjNVeKo1n3dM0AJ.png)
04.12.2021 - 09:45
258
1 min
0
What’s new? The Central Bank of the Russian Federation has stated that it refuses to provide digital asset services. The regulator stressed that dealing with cryptocurrency has high risks and does not meet the demands of the investors in the stock market. The information was published on the Central Bank's website following a meeting on the development of the domestic securities market.
Information on the website of the Central Bank of the Russian Federation
What else did the regulator say? The Bank of Russia has opposed the use of digital assets as a currency for the settlements because they are not backed by the state.
“The industry representatives have raised the issue of allowing investments in the crypto assets. According to the Bank of Russia, the provision of services by the financial institutions related to the transactions with crypto assets and derivatives on such assets does not meet the interests of the investors in the financial market and carries high risks.”
What events preceded it? Russian President Vladimir Putin spoke about the risks of cryptocurrency use at the “Russia Calling!” investment forum. He pointed to its high volatility but did not rule out that there may be a future for digital assets.
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