Speaking at a press conference on 17 December, the Russian Central Bank governor raised the possibility of a blanket ban on cryptocurrency-related activities being imposed in 2022 to counter risks to financial stability and the use of crypto in illegal activities. The regulator is seeking to prevent Russia’s financial infrastructure from using crypto transactions. Speaking last month, Russian President, Vladimir Putin, also voiced concerns about the high risks and extreme volatility of cryptocurrencies. At the same time, Russia is prioritising the development of a regulation-compliant digital Ruble to compete with private sector cryptocurrencies.
CH-019428 (Webpage Portal) 2021-12-17 (Published) 2021-12-23 (Updated)