Bank of Russia to allow crypto investment via foreign firms: Report
Russian citizens and businesses will reportedly have the right to acquire Bitcoin, but not via local infrastructure. Russia continues sending mixed signals to the cryptocurrency markets as more reports provide details on the country’s upcoming crypto regulation.Shortly after Bank of Russia governor Elvira Nabiullina announced the Bank’s intention to prevent the local financial system from using crypto, another executive at the central bank has clarified that crypto investment will remain legal in Russia.There will be one important condition, however: Russians will only be able to invest in....
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The governor of the Bank of Russia has maintained a tough stance on Bitcoin despite growing criticism of how the bank has handled digital asset regulation. The Bank of Russia continues its tough stance on cryptocurrency trading despite growing concerns over the country missing out on the digital asset industry. The governor of Russia's central bank, Elvira Nabiullina, reiterated the bank’s negative stance on crypto in a Monday interview with Komsomolskaya Pravda, arguing that crypto is one of the most dangerous investments that currently exist.Nabiullina mentioned crypto within the context....
Crypto seems to be nearly as popular as gold among Russian investors. Cryptocurrency investment is one of the most popular investment tools in Russia, according to a new report.The World Gold Council, a major market development organization for the gold industry, released a report on retail gold insights in Russia on Oct. 20.According to the report, cryptocurrency is currently the fifth-most popular investment tool in Russia after savings accounts, foreign currencies, real estate and life insurance. As part of the World Gold Council's rankings of Russian investments made in the past 12....
In late 2021, Bank of Russia deputy governor claimed the bank would allow crypto investment only via foreign firms. The Bank of Russia has registered tokenization service Atomyze as the country’s first digital asset management company, the central bank officially announced Thursday.According to the announcement, the Bank of Russia has formally deemed the rules of the company’s information system and the platform’s technical implementation as being compliant with the Russian law.The registration enables Atomyze to provide its clients with an opportunity to issue digital financial assets, or....
To enhance its foreign economic activity (FEA), Russia plans to launch two major crypto exchanges in its region—one in Moscow and the other in St. Petersburg. According to the report, this initiative highlights Russia’s “strategic” move to integrate digital assets into its economy. It focuses on creating and utilizing stablecoins pegged to the Chinese yuan and […]
It is impossible to stop the Bitcoin movement, that much has become evident. Excluding Bitcoin from Russia would do more harm than good in the long run. Russia has always had an unusual relationship with Bitcoin and cryptocurrency. It has been unclear how the situation will evolve for quite some time now. A new statement by the Bank of Russia hints at no further action being taken against the usage of Bitcoin. Another positive sign for Bitcoin on a global scale, although this does not mean cryptocurrency is legal in Russia all of a sudden. People have to keep in mind this statement does....