The Central Bank of Russia has once again confirmed its negative attitude towards the idea of accepting cryptocurrency in the country.
Head of the Department of Financial Monitoring and Currency Control of the Bank of Russia Ilya Yasinsky emphasized that the main financial regulator will not allow the use of anonymous crypto-transactions by citizens. In addition, the high volatility of crypto assets does not allow them to be considered as a reliable investment instrument, and the regulator is obliged to protect unqualified investors from high risks.
The current policy of the Bank of Russia is that we are categorically against crypto.
In this regard, a number of amendments have been made to the regulatory documents of the Central Bank, which will come into force on October 1. According to the new rules, all transactions with digital currencies automatically fall into the “suspicious” category and are subject to increased attention and verification by the banking monitoring service.
The Central Bank of Russia is already working on a mechanism for blocking transfers of funds to crypto exchanges and exchangers. He also plans to tighten penalties for violators of cryptocurrency legislation, including criminal liability.
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