Bank of Russia did not approve the use of Bitcoin by financial companies

The Bank of Russia has opposed financial companies providing services related to cryptocurrency operations.

In the regulator’s view, services provided by financial institutions related to operations with crypto assets and derivatives on such assets do not serve investors’ interests on the financial market and entail substantial risks.

The Central Bank also did not back the market’s proposal to expand the practice of issuing Russian financial instruments in foreign currency.

Earlier, in November the Bank of Russia opposed bitcoin payments within the country.

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