Crypto Ban in Russia Can Have Opposite Effect, Medvedev Warns as Opposition M...
Dmitry Medvedev, former president and prime minister of Russia, has voiced his concerns over Bank of Russia’s initiative to ban most crypto operations. Prohibition could bring the opposite result, the Russian politician warned, joining a chorus of opinions against the restrictive policy. More Officials and Organizations Reject Central Bank’s Call to Prohibit Cryptocurrency Central Bank of Russia’s proposal to place a number of crypto-related activities outside the law has sparked a wave of reactions in Moscow. Among the critics are the Finance Ministry which....
Related News
Authorities in Russia may begin to seize funds of foreign nationals and companies that are in the country, former Russian President Dmitry Medvedev has indicated. His warning comes as the West continues to expend penalties imposed on Moscow over its military invasion of neighboring Ukraine. Medvedev Warns Persons and Entities From ‘Hostile’ Nations May Lose Their Assets in Russia The nationalization of Russian-based assets belonging to foreigners and businesses registered in “hostile jurisdictions” is a possible response to the potential seizure of funds of....
Dmitry Medvedev, Russia’s former president and prime minister, has expressed his displeasure with the Central Bank of Russia’s decision to ban crypto transactions. Medvedev Pushes Against Crypto Ban The proposal by the Central Bank of Russia to exempt a variety of crypto-related operations from the legislation has caused a storm of criticism in Moscow. The […]
With the EU, US, and other countries imposing financial sanctions on Russia, there have been concerns that individuals and organizations in the country will resort to crypto to circumvent the restrictions. US Sanctions Will Include Digital Assets With effect from March 1st, the US Treasury Department said that recent sanctions against Russia will include checks […]
Russia's retail cryptocurrency operations currently stand at about $5 billion per year. On Friday, credit rating agency Fitch published a research piece about Russia's proposed ban on cryptocurrencies. Although the report agreed with the Central Bank of Russia's (CBR) position that the ban would limit its financial system's exposure to risks, it also cautioned that such a proposal could "hold back the diffusion of technologies that could improve productivity."In addition, Fitch warned:"Suppose this slows the spread of crypto-driven innovations that, for example, improve the speed and....
The Central Bank of Russia has reaffirmed its opposition to cryptocurrency investments citing the volatility of the digital assets as a key motive for its conservative stance. Governor Elvira Nabiullina has recently indicated that the regulator has the means to restrict them.
Nabiullina Insists Bank of Russia Can Limit Investments in Crypto Assets
Russia’s monetary authority does not welcome investments of Russian citizens in cryptocurrencies, the head of the Central Bank of Russia (CBR), Elvira Nabiullina, said during an online press conference this week. She highlighted....