{"id":49564,"date":"2021-09-16T12:16:09","date_gmt":"2021-09-16T09:16:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49564"},"modified":"2025-09-02T13:16:53","modified_gmt":"2025-09-02T10:16:53","slug":"bank-of-russia-opposes-access-by-non-qualified-investors-to-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bank-of-russia-opposes-access-by-non-qualified-investors-to-bitcoin\/","title":{"rendered":"Bank of Russia opposes access by non-qualified investors to Bitcoin"},"content":{"rendered":"

The Bank of Russia is skeptical about treating cryptocurrency purchases as investments and will not facilitate greater access to them for non-qualified investors. Prime reports<\/a>, citing the central bank’s first deputy chairman, Sergei Shvetsov.<\/p>\n

The regulator believes that digital currencies possess features of a financial pyramid.<\/p>\n

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We believe that [cryptocurrencies] are a different entity from traditional assets, are highly risky, and have features of a financial pyramid. The Bank of Russia will certainly not assist in increasing access for Russian non-qualified investors as a whole \u2014 emphasised Shvetsov.<\/p>\n<\/blockquote>\n

Earlier, the first deputy announced plans for regulators to legislatively broaden the ban on the use of cryptocurrencies<\/a>, up to the introduction of administrative and criminal liability.<\/p>\n

Additionally, the Bank of Russia began developing a mechanism to block bank payments to Bitcoin exchanges and recommended to block cards and accounts for transactions with crypto exchanges<\/a>.<\/p>\n

Lawyers analysed the implications of the new measures for owners of digital assets.<\/p>\n

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Experts assessed the consequences of blocking bank transactions on the accounts of Bitcoin exchanges in Russia<\/a><\/p>\n<\/blockquote>\n