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Russia’s Central Bank Is Not Ready to Allow Cryptocurrency ETFs to Trade in the Russian Market
Summary: Russia’s apex banking institution, the Central Bank of Russia (CBR), has continued to take a hardball stance on cryptocurrencies in the country. During a recent press conference, the bank’s head Elvira Nabiullina told the media that the central bank was not ready to allow cryptocurrency ETFs to trade in the Russian market. Nabiullina’s recent statement ...
Russia’s apex banking institution, the Central Bank of Russia (CBR), has continued to take a hardball stance on cryptocurrencies in the country. During a recent press conference, the bank’s head Elvira Nabiullina told the media that the central bank was not ready to allow cryptocurrency ETFs to trade in the Russian market.
Nabiullina’s recent statement is consistent with how the central bank sees cryptocurrencies.The regulatory body continues to warn Russian banks and investors to be wary of digital assets.
Despite the central bank’s reservations, cryptocurrencies are given serious consideration for adoption in other Russian government circles. Just last week, Russia’s Deputy Foreign Minister Alexander Pankin remarked that it was possible that the country would utilize other currencies and even “digital assets” to partially replace the use of dollars in currency reserves and trade settlements.
By Amy Liu
Tags: CBR,Cryptocurrency,ETF,Russia
Link: Russia’s Central Bank Is Not Ready to Allow Cryptocurrency ETFs to Trade in the Russian Market [Copy]
