Russia plans to ban cryptocurrencies due to risks to the ruble and financial stability

 Russia plans to ban cryptocurrencies due to risks to the ruble and financial stability

Russia intends to ban the issuance, circulation, and exchange of digital currencies in Russia, due to its risks to the ruble and financial stability. The Russian Central Bank released a report for public consultation on Thursday, proposing a ban on the issuance, circulation, and exchange of digital currencies in Russia. The Russian Federation, in its report, said that the proposed ban is caused by its many risks to the ruble and financial stability, and poses a threat to the well-being of citizens. currencies. “We have long been skeptical of digital currencies and consider their risks to be high,” Danilova confirmed. , published a report in which it is stated that the Russian Federal Security Service "FSB" persuaded the Central Bank of Russia to ban the use of digital currencies in Russia. She added that the reason behind this is the funding of the Russian opposition, and foreign media operatives, through digital currencies, which are considered undesirable in the country. Much of this amount, but the Russian Federal Security Service expects the situation to improve. But these reasons contradict what the Central Bank of Russia announced, last December, that it was against conducting operations using cryptocurrency because of its many risks, and a large number of illegal operations. The use of cryptocurrencies should be banned, due to their negative effects on financial infrastructure, the Russian Central Bank has said.

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Russia plans to ban cryptocurrencies due to risks to the ruble and financial stability