Bank of Russia Wants to Restrict Crypto Investments by Blocking Card Payments...
The Central Bank of Russia is currently reviewing various ways to prevent Russians from investing in cryptocurrency. One the options on the table is to block card payments to certain recipients such as crypto exchanges, a media report has unveiled. A recent meeting at the State Duma has indicated, however, that the authority’s hardline stance is not backed by other government institutions in Moscow. Russia’s Central Bank Considers Mechanisms to Limit Crypto Investments In talks with financial market participants, the Central Bank of Russia (CBR) has been....
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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....
Bank of Russia’s crypto restrictions through MCC would unlikely affect exchanges that have been operating illegally so far. Amid the ongoing uncertainty about the future of cryptocurrencies in Russia, one local industry executive has disclosed a potential method for the Bank of Russia to block crypto transactions.Andrey Mikhaylishin, CEO of the local crypto payment startup Joys, said that the Russian central bank is now considering several potential options to make its crypto ban possible, Forbes Russia reported Friday.One of the possible restriction methods includes blocking debit card....
The central bank of Russia has proven to be quite an interesting creature over the years. Despite not being in favor of new technologies or alternative payment methods, they have now decided to launch a new national payments card. Doing so would bring the competition directly to Visa and MasterCard, and so farm thirty-five Russian banks have agreed to participate in the project. It is not the first – nor will it be the last – time Russia is trying to come up with a revolutionary new payment system to take on the dominance by Western players. This more recent attempt started back in 2014....
The Russian central bank wants to ban investments in cryptocurrencies in Russia, citing the growing number of crypto transactions as a threat to financial stability. Russia Mulls Over Crypto Ban Russia’s central bank is attempting to outlaw cryptocurrency investments, escalating the country’s long-standing distrust of Bitcoin and other digital assets. Future transactions would be prohibited, but present holders would not be forced to sell their holdings. Cryptocurrencies, according to Russian authorities, can be used for money laundering and terrorism financing. According to....
The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the possible use of cryptocurrencies for payments, even if only internationally.
Central Bank of Russia to Accept Legalization of Cryptocurrency Mining
The monetary authority in Moscow is now ready to back the legalization of crypto mining under the condition that Russian miners are obliged to sell the coins they obtain in....