Total Crypto Ban Called for by Russian Central Bank: Here’s Potential Reason for It

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.bank_of_russia insists on a total cryptoban, here’s a likely reason

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Calling for a complete crypto ban

The document insists that cryptocurrencies are extremely volatile and are frequently used in criminal activities, including fraud and tax evasion. Therefore, usage of cryptocurrencies poses risks to the national economy by taking “real” money from it and into crypto. Besides, cryptocurrencies are hard to monitor and regulators will have a hell of a time maintaining monetary policies over them.

Particularly, report mentions that issuance of crypto and its circulation must be banned, as well as cryptocurrency trading on exchanges, OTC desks and P2P platforms.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

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