As before, the Central Bank of the Russian Federation talks about possible financial risks for citizens of the country when using cryptocurrency platforms. Therefore, the regulator does not support the development of such infrastructure. At the same time, citizens’ funds should work in the country’s economy, and not in the cryptocurrency sector, Danilova believes.
“Our position remains unchanged: we see the risks of citizens’ involvement in the cryptocurrency market and continue to believe that the development of any infrastructure will only increase these risks, making these products more widespread. We are concerned about risks in terms of the welfare of citizens, risks of fraud, infrastructure risks, and so on,” said Elizaveta Danilova.
According to the Central Bank of the Russian Federation, Russians now store about 96,900 bitcoins (about $3.68 billion) at the addresses of cryptocurrency exchanges. At the same time, the figure decreased over the past year by 3.1%.
At the end of October, the Bank of Russia stated that cryptocurrencies and stablecoins could pose a danger to fiat currencies.
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