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Russian central bank chief demands total crypto ban – Is Moscow shutting down digital trading?
The crypto market has been in a state of turmoil as the head of Russia’s Central Bank, Elvira Nabiullina, demanded a total ban on cryptocurrency settlements between residents outside an experimental legal regime (ELR). This proposal aims to establish liability for those violating this ban. The Russian central bank chief reiterated their long-standing stance that cryptocurrencies should not be allowed as a means of payment.
This bold move has left many in the crypto community questioning whether Moscow is indeed shutting down digital trading. It seems unlikely, considering Russia’s recent efforts to allow “qualified” investors access to cryptocurrencies. However, it appears that the country’s regulatory framework is taking a harsh turn, especially given their stance on cryptocurrency payments.
In a press conference, Nabiullina emphasized that the primary goal of this proposal is to prohibit any form of crypto payment outside the experimental legal regime. This drastic measure aims to ensure the stability and security of Russia’s financial system.
Source: https://ambcrypto.com/russian-central-bank-chief-demands-total-crypto-ban-is-moscow-shutting-down-digital-trading/
