Cryptocurrencies seen by the Bank of Russia as a threat to the ruble and financial stability.
for 2021. Expanding on a long list of previously highlighted negatives related to digital currencies like bitcoin, the monetary authority stated:
There is a risk of undermining the circulation of money and loss of sovereignty for the national currency. The regulator is repeating earlier warnings that digital assets increase the risk of outflow of funds from the traditional financial system towards the still largely unregulated crypto market. This transfer of savings threatens the financial stability of Russian banks, the CBR says, quoted by RBC Crypto.
Bank of Russia remains concerned about the “well-being of citizens” as in its view, the growth of the crypto market forms a bubble while cryptocurrencies bear characteristics of financial pyramids. Investor protection is limited and investments in digital coins can be lost due to price volatility or as a result of fraud and cyberthreats, the CBR adds.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
French bank SocGen becomes first big Western bank to end Russia tiesSociete Generale has announced it is ending its Russian activities, making it the first big Western bank to announce it’s quitting Russia.
Baca lebih lajut »
Russia-Ukraine live updates: Biden accuses Russia of genocide; West to release probe of Kremlin’s abusesThe Organization for Security and Cooperation in Europe on Wednesday will publish the findings of an investigation into the Kremlin's alleged abuses in Ukraine.
Baca lebih lajut »
WNBA opens draft, says it aims to bring Brittney Griner home from RussiaThe head of the association acknowledged the Russian invasion of Ukraine complicated the freeing of the basketball star, but said it's committed to her release.
Baca lebih lajut »
Opinion | Will Russia Be Held Accountable for War Crimes in Ukraine?'The wider reality of the terrible suffering in Ukraine is not that it is an unprecedently brutal war but that it is all too typical of the wars fought in recent decades.'
Baca lebih lajut »
Ukrainian defenders dig in as Russia boosts firepower, shifts eastUkrainian forces are digging in while Russia’s military lines up more firepower, tapping an experienced general to command the war.
Baca lebih lajut »