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Russia's Central Bank Is Still Fighting Against Crypto Adoption, Arguing The Currencies Are Used For Criminal Activity

Emily Mason

Summary: Russia's Central Bank is still fighting against crypto adoption arguing that the currencies are used for illicit activities. In a live stream on Tuesday, July 28 Sergei Shvetsov, the first deputy governor at the Bank of Russia, stated that the Bank does not consider cryptocurrencies as an investment, comparing them to pyramid schemes or roulette games.  ...

Russia's Central Bank is still fighting against crypto adoption arguing that the currencies are used for illicit activities.

In a live stream on Tuesday, July 28 Sergei Shvetsov, the first deputy governor at the Bank of Russia, stated that the Bank does not consider cryptocurrencies as an investment, comparing them to pyramid schemes or roulette games. 

The comments come days after Russia passed a new bill prohibiting the use of cryptocurrencies for payments. A plan for regulating cryptocurrencies in Russia is expected to be addressed in an upcoming bill called "On Digital Currency."

By Emily Mason

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Link: Russia's Central Bank Is Still Fighting Against Crypto Adoption, Arguing The Currencies Are Used For Criminal Activity   [Copy]
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