{"id":54467,"date":"2021-12-10T14:08:53","date_gmt":"2021-12-10T12:08:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=54467"},"modified":"2025-09-03T20:35:17","modified_gmt":"2025-09-03T17:35:17","slug":"bank-of-russia-outlines-crypto-related-risks","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bank-of-russia-outlines-crypto-related-risks\/","title":{"rendered":"Bank of Russia outlines crypto-related risks"},"content":{"rendered":"<p>Cryptocurrencies cannot be used as a means of payment due to their high volatility, according to the <a href=\\\"http:\/\/www.cbr.ru\/Content\/Document\/File\/131360\/oncfr_2022-2024.pdf\\\">Bank of Russia document<\/a>, which outlines the main directions of the digitalisation of the financial market in 2022-2024.<\/p>\n<p>The central bank also notes that crypto assets \\&#8221;have not received recognition from global regulators\\&#8221; due to risks of their use for money laundering.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;In addition, these assets are unsafe due to the heightened interest in them from criminals,\\&#8221; the document states.<\/p>\n<\/blockquote>\n<p>The Bank notes differences in the regulation of the cryptocurrency sphere, but points to an overall trend toward tightening.<\/p>\n<p>The regulator said that central bank digital currencies (CBDCs) could be the answer to the public&#8217;s demand for a safe digital payment instrument. In November, the regulator&#8217;s head, Elvira Nabiullina, said that the central bank-developed <a href=\"https:\/\/u1f987.com\/en\/news\/nabiullina-digital-ruble-will-become-a-full-replacement-for-cryptocurrencies-for-russians\">digital ruble will become a full replacement for cryptocurrencies for Russians<\/a>.<\/p>\n<p>Earlier in October, the Bank of Russia <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-russia-says-russians-bitcoin-investments-pose-a-potentially-significant-problem\">called<\/a> residents&#8217; investments in crypto assets a potentially significant problem. According to the regulator&#8217;s estimates, the volume of residents&#8217; crypto-asset operations in Russia amounts to <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-russia-russians-annual-cryptocurrency-trading-volume-stands-at-around-5-billion\">about $5 billion<\/a> annually.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrencies cannot be used as a means of payment due to their high volatility, according to the Bank of Russia document outlining the main directions of the digitalisation of the financial market in 2022-2024.<\/p>\n","protected":false},"author":1,"featured_media":54468,"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":[345,1269],"class_list":["post-54467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-russia","tag-cryptocurrencies"],"aioseo_notices":[],"amp_enabled":true,"views":"7","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54467","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=54467"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54467\/revisions"}],"predecessor-version":[{"id":54469,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54467\/revisions\/54469"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/54468"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=54467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=54467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=54467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}