Notebookcheck Logo
, , , , , ,
search relation.
, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
 

Anonymous financial market sources claim that the Russian central bank is preparing to ban all cryptocurrency investments

The Bank of Russia is allegedly preparing to ban investments made in cryptocurrencies. (Image source: Central Bank of Russia)
The Bank of Russia is allegedly preparing to ban investments made in cryptocurrencies. (Image source: Central Bank of Russia)
Financial market sources familiar with the Russian central bank have told Reuters that the bank is preparing to outlaw all investments in cryptocurrencies. Reportedly, the central bank is considering this due to cryptocurrencies posing a risk to financial stability. The Bank of Russia's hostile attitude towards cryptocurrencies is nothing new.

Sources familiar with the Central Bank of Russia have told Reuters that the bank is considering banning all investments in cryptocurrencies. If true, the move wouldn’t affect investments that users have made before the legislation but would ban all subsequent ones. The central bank is reportedly in talks with market experts and investors about outlawing cryptocurrency investments. According to one source, the central bank’s position on crypto is one of universal rejection.

Upon asking for comment by Reuters, the central bank didn’t specify whether it is targeting a complete ban on investment or not. The bank commented that a report meant to explain the bank’s position on cryptocurrencies is underway. This is not the first time that the Bank of Russia has taken a hard stance against virtual currencies.

In 2020, Russia banned crypto payments, citing reasons such as money laundering and terror financing. With China’s hardline approach of banning decentralized virtual currencies in favor of the central bank issued one serving as a model, Russia is moving closer to issuing the digital Russian Ruble while at the same time restricting the use of decentralized cryptocurrencies.

Buy SecuX W20 crypto hardware wallet with Bluetooth on Amazon

Source(s)

static version load dynamic
Loading Comments
Comment on this article
Fawad Murtaza
Fawad Murtaza - Tech Writer - 131 articles published on Notebookcheck since 2021
I am Fawad, a fellow tech nerd. As a tech junkie, my relationship with technology goes back to my childhood years. Getting my first Intel Pentium 4 PC was the start of journey that would eventually bring me to Notebookcheck. Finally, I have been writing for tech media since 2018. From small no-name projects to industry leaders, I have worked with a number of tech publications.
contact me via: LinkedIn
Please share our article, every link counts!
> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2021 12 > Anonymous financial market sources claim that the Russian central bank is preparing to ban all cryptocurrency investments
Fawad Murtaza, 2021-12-16 (Update: 2021-12-16)