Russia’s central bank proposes BTC ban, causing uproar within government
The bank says digital currencies threaten financial stability and wants to even ban mining, but the Finance Ministry and top tech execs oppose the move.
The bank says digital currencies threaten financial stability and wants to even ban mining, but the Finance Ministry and top tech execs oppose the move.
As per a new report by the country’s central bank, the digital ruble will need to be accessible both online and offline and will be easy to integrate into existing payment systems.
Russian government officials have revealed that criminals prefer to stick to bank cards to get their money.
The Central Bank of Russia is planning to introduce an annual limit on crypto transactions among unqualified investors, as an amendment to current draft cryptocurrency regulations making their way through the State Duma.
The central bank says future growth and mass adoption will change this stability, with the volatility of crypto assets making them severely unreliable.
It has been a fairly busy week for the cryptocurrency sector in Russia.
The Russian central bank has issued new warnings over cryptocurrency investments, urging investors to be mindful of the risks.