Published January 20, 2022 at 2:44 pm
Currency. Russia's central bank has today put forward a proposal to completely ban trading in, and extraction of, bitcoin and other cryptocurrencies. It reports RT.
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In a statement on Thursday, the central bank writes that the status of the Russian ruble does not allow Russia to “proceed too cautiously or ignore the growing risks” associated with the cryptocurrencies.
The bank proposes a series measures to “minimize the risks associated with the proliferation of cryptocurrencies”.
These include banning transactions from the Russian market and stopping financial institutions from investing in digital currencies.
The extraction of cryptocurrencies would also be prohibited under the proposed rule change, as would the opportunity for investors to sell their holdings. Those who break the prohibitions must risk prosecution.