Media reports on plans by Russia’s central bank to ban investments in cryptocurrencies.

The Bank of Russia intends to ban investments in cryptocurrencies due to risks to financial stability in light of the growing number of transactions with digital assets. Reuters reports, citing two sources close to the regulator.

According to the press, the Bank of Russia is currently in talks with market participants and experts about a possible ban. One of the publication’s sources said that if the measure is adopted, restrictions would not affect holders of assets acquired previously.

Another source close to the regulator said that the central bank’s position is a ‘full rejection’ of all cryptocurrencies.

The Bank of Russia said it would outline its position on the matter in a special report.

The Bank of Russia has long opposed cryptocurrencies.

In September, the central bank classed operations with bitcoin exchangers as potentially suspicious and recommended banks to keep a close eye on them and even block them in case of suspected money laundering.

The Bank of Russia also opposed access by non-qualified investors to crypto assets, the use of them for payments domestically, and called Russians’ investments in Bitcoin a potentially significant problem.

In November, the central bank published a report estimating the annual volume of Russians’ cryptocurrency operations at around $5 billion.

Head of the State Duma Committee on Financial Markets Anatoly Aksakov said, that authorities are currently discussing various regulatory options for the industry, including a full ban on investments in crypto assets.

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