Nabiullina: The central bank does not back investments in cryptocurrencies due to their opacity and volatility

Central Bank head Elvira Nabiullina, at a пресс-конференции, again expressed a skeptical view of cryptocurrencies due to risks for retail investors.

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In her words, crypto assets are \”very opaque\”, are often used in illicit operations, and their price is too volatile.

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\”We advocate that the Russian financial infrastructure not be used for transactions with cryptocurrencies. This can be implemented quite easily,\” Nabiullina said.

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Earlier media, citing sources at the Bank of Russia, reported plans by the regulator to ban investments in cryptocurrencies.

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Head of the State Duma Committee on the Financial Market Anatoly Aksakov said that Russian authorities are discussing various options for regulating the industry — from bans on ownership and purchase of crypto assets to the legalization of Bitcoin exchanges.

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Experts told ForkLog what such restrictions on cryptocurrency investments in Russia may entail:

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