Stricter rules? Deputy Prime Minister of the Central Bank of Russia announced a ban on private cryptocurrencies

On December 20, foreign investors pointed out that Vladimir Chistyukhin, deputy governor of the Central Bank of Russia, hinted on Monday that the private cryptocurrency sector would soon be cut off from the Russian financial market. Vladimir Chistyukhin said the Central Bank of Russia is preparing a statement outlining the agreement to ban the use of cryptocurrencies in Russia. Chistyukhin added that he believes there is no place for cryptocurrencies in the Russian financial market.

In fact, the source pointed out on the 16th that the Russian Central Bank was looking for ways to restrict cryptocurrency investments in Russia. On the 17th, Valeriy Lyakh, head of the Russian Anti-Fraud Company, declared cryptocurrency investments to be a "complete fraud" and a "financial pyramid". Lyakh said the cryptocurrency market is changing rapidly, it is unregulated, and no one is looking to be regulated.

According to the data, the annual volume of cryptocurrency trading of the Russians is around $ 5 billion. In the past, the Central Bank of Russia has also pointed out that there is a need to strengthen the surveillance of the cryptocurrency market by locals due to the risks to the financial market. Localization has increased due to the growth of cryptocurrencies.

Russia plans to announce its own digital ruble on private cryptocurrencies, saying it could be used for money laundering or financial looting. On December 17, Nabi Yurina, Governor of the Central Bank of Russia, also indicated that he does not believe in cryptocurrencies. Yes, Russian infrastructure should not be used to use cryptocurrencies.

On November 30, Russian President Vladimir Putin said: “We must force the withdrawal of the US dollar. Russia must reduce the volatility of the ruble. But it won't be that big. “There is a high risk.

It should be noted that in the media of the 19, Russian police pointed out that they were talking about "two diametrically opposed methods" of controlling cryptocurrency. Some regulatory agreements are very strict and restrict any acquisition and membership of cryptocurrencies. Another option is to make it easier for the IRS to report taxes by allowing the creation of cryptocurrency exchanges and making their operations transparent to regulators.

However, a source close to the Central Bank of Russia (CBR) said that the central bank's current position is to "wipe out" all cryptocurrencies. In the past, domestic financial institutions have applied to the Russian Federation for permission to invest in cryptocurrencies. In this regard, the Central Bank of the Russian Federation said: Woori Bank believes that the services affect the operation of crypto assets and the acquisition of assets provided by financial institutions. Manufacturing is not in the interest of any financial investor and is very risky. Therefore, recommendations from members of the financial industry to allow the provision of crypto-related services are not accepted.

In addition, the Central Bank of Russia has said in the past that cryptocurrency regulations need to be tightened, and also highlighted the past experience of China and India. At the same time, Russian banks take part in international competitions and create their own digital wallet, which aims to improve the financial system, streamline payments quickly and against the threat of other cryptocurrencies.