Russia's central bank calls for blanket crypto ban

The Bank of Russia has advocated for a complete crypto ban as part of a report issued by the country’s central bank on Thursday. Thetitled “Cryptocurrencies: trends, risks, measures” argued that the speculative nature of cryptocurrency investments poses significant threats to the financial stability of Russian citizens.

As part of the blanket crypto ban, Russia’s central bank also stated that commercial banks and other financial institutions should be prevented from facilitating cryptocurrency transfers. According to the report, such a move will eliminate any avenues for crypto-to-fiat transactions. Apart from banning crypto trading and investments, Russia’s central bank also called for a prohibition on cryptocurrency mining, citing energy consumption concerns. In terms of global hash rate distribution, Russia is the third-largest bitcoin mining location behind the US and Kazakhstan, according toIn November 2021, some lawmakers in the country were pushing for a parliamentary committeeThursday’s report is not the first anti-crypto posture from the Bank of Russia.

a ban on cryptocurrency investments while stating that it did not see any room for crypto in the country.

To prevent them from using crypto when President Biden cancels SWIFT and other things.

HA! As if that'll stop Putin, or any of the oligarchs, or big companies from buying it anyway.

queue the russia fud

Black market here we come

Central banks and monopolies don't like competition. Too late, the genie is out.

They worry so much about people's financial situation THAT IT DOES NOT RISE 😀😀😀

good. now we know what is the totalitarian choice. lets do the opposite

China ban, 60k-30k then 30k-69k, fuck news like this

Central banks don’t like permission-less, non-sovereign money. Least surprising news of the decade.

Oh wait Price dumped $5 because of this 😮😮😱

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