The FSB persuaded the head of the Bank of Russia, Elvira Nabiullina, to back a full ban on cryptocurrency transactions in Russia. Bloomberg reports, citing two unnamed sources, that a document is in ForkLog’s possession.<\/p>\n
Details can be found in ForkLog’s special feature.<\/p>\n<\/div>\n
According to them, authorities thus intend to deprive the opposition and foreign-agent media of access to funding.<\/p>\n
The publication suggests that the ban could affect $92 billion of digital assets held in Russia. At the same time, according to the sources, funding for the opposition and for mass media accounts for a small share of this amount.<\/p>\n
The establishment of a regulatory framework for the crypto market is expected to be a priority of the spring session of the State Duma.<\/p>\n
ForkLog has sent requests to the Bank of Russia and the FSB.<\/p>\n
Earlier, Reuters, citing two sources reported<\/a> on 16 December 2021 that the Bank of Russia sought to ban Russians from investing in cryptocurrencies due to the risk of financial instability.<\/p>\n In September, the regulator announced plans to develop a payments-blocking mechanism<\/a> aimed at restricting payments to cryptocurrency exchanges and exchangers.<\/p>\n The current version of the ‘CFA’ law prohibits settlements in cryptocurrencies, but does not restrict their purchase or mining.<\/p>\n