Bank of Russia to allow digital currency investments, but only through foreign companies
Russia has given mixed messages about digital currencies almost every other day, ranging from banning them one day to legalizing them the next. The latest from the Bank of Russia is that locals can invest in digital currencies, but only if they hire foreign companies to do so.
Deputy Governor Vladimir Chistyukhin said the bank would not prevent investors from getting into digital currencies, contradicting his boss who recently said the central bank was looking to ban digital currencies altogether.
“Russian citizens and businesses have the right to acquire and hold cryptocurrencies, but not through national infrastructure or intermediaries,” Chistyukhin said.
Like reported According to state media TASS, the deputy governor said there was still a long way to go before digital currency regulation was rolled out in the country. He said the central bank was already working on a “more precise definition” of digital currencies and the policies governing their circulation.
Chistyukhin also referred to the central bank’s efforts to regulate Bitcoin by writing a report that details the policies he believes parliament should put in place for the sector. Governor Elvira Nabiullina also referred to this report recently, saying it would be a big step forward in the regulation of digital currency.
“I think we’ll be releasing a report on cryptocurrencies soon. This report will contain our approaches related to the place we see for cryptocurrency in the Russian financial market ”, revealed the vice-governor.
However, despite reassuring the Russians that they can buy Bitcoin through foreign channels, he added: “I’ll give a hint: we don’t see a place for cryptocurrency on the Russian financial market. “
This is the state of Bitcoin regulation in the country. Different lawmakers and senior officials seem to give different messages every week. Anatoly Aksakov, the head of the financial markets committee in parliament, recently claimed that the government has not decided on the way forward for the regulation of digital currency. On the same day, the Bank of Russia said it was working with stakeholders and lawmakers to implement a total ban.
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