The Central Bank of Russia has published a “black list” of 1,820 financial organizations illegally operating in the territory of the Russian Federation. It hit several cryptocurrency companies, mostly with a dubious reputation.
According to the statement of the Bank of Russia, in order to provide financial services in the Russian Federation, organizations are required to obtain permission from the central bank for this. If companies are not properly licensed, they operate illegally in the country and pose a threat to users.
Thanks to a special monitoring system, the Central Bank of Russia detected 1,820 organizations with signs of a pyramid scheme, an illegal lender and an illegal professional participant in the securities market.
Popular cryptocurrency exchanges have not been included in the Bank of Russia blacklist, but it contains the following companies working with cryptocurrencies: Crypto Inс, Crypto Invest, Crypto Security, Crypto-Max, Secret Crypto Deals, Post Cryptum Tech, Cryptobase inc, Cryptobull, CRYPTOHANDS, CryptoKS, Crypton Broker, CRYPTONODE, CRYPTOON, ETHCoinOn, CRYPTOBITEX, CRYPTONATOR, Crypto CX, Crypto Capital Pro, Imperial Crypto Market, Tradeallcrypto, CryptoCX, Grandeur Bitcoin Project and MMM bitcoin. The list also includes well-known brokerage companies: Interactive Brokers, Forex Club and Alpari.
The Bank of Russia took measures to block the websites of all these firms, interacting on this issue with law enforcement agencies and international regulators. The Central Bank of the Russian Federation has warned that persons affected by the actions of organizations working illegally in the financial market will not be able to count on compensation for material damage. Therefore, the regulator urged users to work only with licensed financial service providers in order to avoid monetary losses.
Last year, the first deputy chairman of the Bank of Russia, Sergei Shvetsov, said that the central bank does not consider the purchase of cryptocurrencies to be investments, since their value is determined only by supply and demand.
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