{"id":51215,"date":"2021-10-14T17:08:48","date_gmt":"2021-10-14T14:08:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51215"},"modified":"2025-09-02T22:27:27","modified_gmt":"2025-09-02T19:27:27","slug":"bank-of-russia-says-russians-bitcoin-investments-pose-a-potentially-significant-problem","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bank-of-russia-says-russians-bitcoin-investments-pose-a-potentially-significant-problem\/","title":{"rendered":"Bank of Russia says Russians&#8217; bitcoin investments pose a potentially significant problem"},"content":{"rendered":"<p>The Bank of Russia regards residents&#8217; investments in cryptocurrencies as a potentially significant problem. This was stated by Elizaveta Danilova, head of the Financial Stability Department at the Bank of Russia, in an interview with <a href=\\\"https:\/\/www.cbr.ru\/press\/event\/?id=12325\\\">Reuters<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>In her view, people are drawn to Bitcoin by its &#8216;excessive volatility&#8217;, as many seek easy money.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;The transparency of this market is very low both here and in other countries. We need to work on data and on raising citizens&#8217; awareness of the risks of such unbacked investments,&#8221; she said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>According to Danilova, the regulator&#8217;s difficulty lies in the cross-border nature of the market, as residents of the Russian Federation can buy cryptocurrencies through foreign platforms.<\/p>\n<p>\\n\\n<\/p>\n<p>She noted that cryptocurrency derivatives carry &#8216;enormous risks&#8217;.<\/p>\n<p>\\n\\n<\/p>\n<p>Danilova also said that the Bank of Russia is conducting a survey of market participants to assess the volume of investments in cryptocurrencies.<\/p>\n<p>\\n\\n<\/p>\n<p>The Bank of Russia has long been <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-russia-opposes-access-by-non-qualified-investors-to-bitcoin\">\u0441\u043a\u0435\u043f\u0442\u0438\u0447\u0435\u0441\u043a\u0438 \u043e\u0442\u043d\u043e\u0441\u0438\u0442\u0441\u044f<\/a> to citizens&#8217; investments in cryptocurrencies and maintains that the ruble is the only legal tender in the Russian Federation.<\/p>\n<p>\\n\\n<\/p>\n<p>In September, First Deputy Chairman of the Bank of Russia Sergey Shvetsov <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-russia-proposes-curbing-bank-payments-to-bitcoin-exchanges\">announced the creation of a mechanism to block payments<\/a> to Bitcoin exchanges and exchangers to combat &#8217;emotional buying of cryptocurrencies&#8217;.<\/p>\n<p>\\n\\n<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Russia regards residents&#8217; investments in cryptocurrencies as a potentially significant problem. This was stated by Elizaveta Danilova, head of the Financial Stability Department at the Bank of Russia in an interview with Reuters.<\/p>\n","protected":false},"author":1,"featured_media":51216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[345,18,1451],"class_list":["post-51215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-russia","tag-bitcoin","tag-bitcoin-regulation-in-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51215"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51215\/revisions"}],"predecessor-version":[{"id":51217,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51215\/revisions\/51217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}