{"id":56437,"date":"2022-01-24T11:29:28","date_gmt":"2022-01-24T09:29:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56437"},"modified":"2025-09-04T06:25:31","modified_gmt":"2025-09-04T03:25:31","slug":"former-deputy-head-of-russias-central-bank-notes-positive-effects-of-bitcoin-ban","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/former-deputy-head-of-russias-central-bank-notes-positive-effects-of-bitcoin-ban\/","title":{"rendered":"Former deputy head of Russia\u2019s central bank notes positive effects of Bitcoin ban"},"content":{"rendered":"<p>The Bank of Russia&#8217;s stringent measures against cryptocurrencies will prevent losses to the economy, not trigger a capital outflow. This is according to the statement by the chief executive of the Analytical Credit Rating Agency (ACRA), former deputy chairman of the central bank Mikhail Sukhov <a href=\"https:\/\/ria.ru\/20220123\/kriptovalyuta-1769108334.html\">writes<\/a> for RIA Novosti.<\/p>\n<p>In his view, the regulator is acting promptly and bases its approach on the main aspects of the negative impact of digital currencies.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe measures proposed by the Bank of Russia will not cause capital outflows, but rather the legitimisation of capital, including that flowing into the country. With effective supervision of the operations of financial institutions, and under the oversight of the introduced prohibitions, the risks of abuse can be minimised,\u201d Sukhov emphasised.<\/p>\n<\/blockquote>\n<p>He concluded that public use of cryptocurrencies remains uncommon, therefore the strict measures may help prevent losses to the economy and the budget.<\/p>\n<p>Earlier, on January 20, the Bank of Russia proposed to ban the issuance, circulation and exchange of cryptocurrencies, as well as the organization of such operations within Russia. The regulator stated that these digital assets (including stablecoins) are candidates to replace fiat money, but are primarily used in illegal activity.<\/p>\n<p>Later the regulator <a href=\"https:\/\/forklog.com\/en\/news\/pavel-durov-criticises-bank-of-russia-proposal-to-ban-cryptocurrencies-and-mining\">initiative was criticised<\/a> by Telegram founder Pavel Durov, and experts described it as <meta charset=\"utf-8\">\u00aba <a href=\"https:\/\/forklog.com\/en\/news\/experts-banning-bitcoin-operations-in-russia-would-be-a-step-toward-the-countrys-hopeless-technological-lag\">step towards the country\u2019s hopeless lag<\/a><meta charset=\"utf-8\">\u00bb.<\/p>\n<p>The Bank of Russia&#8217;s position was also not supported by <a href=\"https:\/\/forklog.com\/en\/news\/duma-members-warn-that-the-central-banks-stance-on-cryptocurrencies-risks-turning-russia-into-a-laughing-stock\">the government, the State Duma and the security agencies<\/a>. Vladimir Gutenev, chairman of the State Duma Committee on Industry and Trade, is confident that <a href=\"https:\/\/forklog.com\/en\/news\/state-duma-outlines-conditions-for-preserving-mining-in-russia\">mining enterprises can be kept<\/a> if they operate under strict oversight by regulatory authorities.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Russia&#8217;s stringent measures against cryptocurrencies will prevent losses to the economy, not trigger a capital outflow, says former deputy chairman of the central bank Mikhail Sukhov.<\/p>\n","protected":false},"author":1,"featured_media":56438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[345,1305,1451,1138],"class_list":["post-56437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-russia","tag-bitcoin-ban","tag-bitcoin-regulation-in-russia","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=56437"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56437\/revisions"}],"predecessor-version":[{"id":56439,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56437\/revisions\/56439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/56438"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=56437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=56437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=56437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}