{"id":56639,"date":"2022-01-26T15:01:51","date_gmt":"2022-01-26T13:01:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56639"},"modified":"2025-09-04T07:26:12","modified_gmt":"2025-09-04T04:26:12","slug":"bank-of-russia-labels-bitcoin-purchases-as-capital-outflows-from-the-economy","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bank-of-russia-labels-bitcoin-purchases-as-capital-outflows-from-the-economy\/","title":{"rendered":"Bank of Russia labels Bitcoin purchases as capital outflows from the economy"},"content":{"rendered":"<p>Russians investing in digital currencies are depriving the economy of funding, the Bank of Russia <a href=\\\"https:\/\/www.forbes.ru\/finansy\/453619-cb-otvetil-kritikam-svoego-doklada-o-regulirovanii-kriptovalut\\\">said<\/a> in a comment to Forbes.<\/p>\n<p>\\n\\n<\/p>\n<p>According to them, the previously proposed initiative for a full ban on cryptocurrency operations is aimed at preventing capital flight.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cInstead of putting funds into deposits, stocks and bonds that finance our economy, citizens are purchasing cryptocurrencies that actively support payments in the illicit economy. One could draw a parallel with dollarisation, but only investments in cryptocurrencies can completely lose value,\u201d the Bank of Russia said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>The regulator acknowledged that Russians&#8217; cryptocurrency activity is currently small, but given the trend toward growth, it sees a need to warn about risks of forming a parallel banking system.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cWe can also draw a parallel with the situation of currency lending to citizens. Although the share of foreign-currency mortgages did not exceed 2%, this has become a socially significant issue. To prevent a similar development in the cryptocurrency market, we strive to act promptly,\u201d the Bank of Russia said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>In January, the Bank of Russia published the <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-russia-proposes-ban-on-issuance-circulation-and-mining-of-cryptocurrencies-in-russia\">report<\/a>, in which it proposed banning the circulation and mining of cryptocurrencies on the territory of the Russian Federation.<\/p>\n<p>\\n\\n<\/p>\n<p>The State Duma said that the central bank&#8217;s stance toward cryptocurrencies risks <a href=\"https:\/\/u1f987.com\/en\/news\/duma-members-warn-that-the-central-banks-stance-on-cryptocurrencies-risks-turning-russia-into-a-laughing-stock\">making Russia a laughingstock<\/a>. The Finance Ministry likewise advocated <a href=\"https:\/\/u1f987.com\/en\/news\/russian-finance-ministry-opposes-a-ban-on-cryptocurrencies\">regulation<\/a>, rather than a ban on the industry. <\/p>\n<p>\\n\\n<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Russians investing in digital currencies are depriving the economy of funding, the Bank of Russia said.<\/p>\n","protected":false},"author":1,"featured_media":56640,"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":[345,1451],"class_list":["post-56639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-russia","tag-bitcoin-regulation-in-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56639","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=56639"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56639\/revisions"}],"predecessor-version":[{"id":56641,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56639\/revisions\/56641"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/56640"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=56639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=56639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=56639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}