Bank of Russia calls for all-out ban on cryptocurrencies

clock • 1 min read
Bank of Russia calls for all-out ban on cryptocurrencies

The Bank of Russia has called for a full ban on cryptocurrencies in the country, citing high volatility and "proliferation of fraud" as key reasons. The bank noted that the global cryptocurrency market surged over the past year, hitting a market capitalisation of $2.3trn in December 2021. In a statement on Thursday (20 January), Bank of Russia said: "Owing to anonymity in transactions, money substitutes are extensively used for illegal activities." The call to ban crypto in Russia was made...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login