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Russian central bank proposes banning cryptocurrencies, crypto mining

Russian central bank proposes banning cryptocurrencies, crypto mining

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by January 20, 2022 Market
Published by
Reuters UK

By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) -Russia’s central bank on Thursday proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens’ wellbeing and its monetary policy sovereignty. The move is the latest in a global cryptocurrency crackdown as governments from Asia to the United States worry that privately operated highly volatile digital currencies could undermine their control of financial and monetary systems. Russia has argued for years against cryptocurrencies, saying they could be used in money launder…

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