Bank of Russia wants to ban crypto investments on financial stability risks - Reuters

The Bank of Russia seeks to ban crypto investments in the country as it sees risks to financial stability, two sources told Reuters.

  • The central bank's current position is a "complete rejection" of all cryptos, a source told Reuters. The bank told Reuters that it's preparing an advisory report on the matter.

  • If the ban is approved by lawmakers, it could apply to new purchases of cryptos, but not those bought in the past, another source told Reuters.

  • Meanwhile, bitcoin (BTC-USD +3.7%) and ethereum (ETH-USD +10.7%) gain intra-day, but still well off its all-time highs.

  • Earlier this week, the Bank of Russia rejected mutual funds from investing in crypto assets.

New Economies BlogBank of Russia, neweconomies