Russia, which has enormous potential in the crypto money industry, seems to be doing its best to prevent it, as can be expected.
CBR, the central bank of Russia, is working on a new system, according to the reported information. Stating that the system in question will be aimed at delaying fiat payments to cryptocurrency exchanges, the sources stated that this is actually a step taken to prevent emotional payments.
Payment to Cryptocurrency Exchanges Will Be Delayed
Speaking at the Sochi summit, a CBR official stated that the goal is to prevent payments made with an emotional, that is, sudden enthusiasm towards the crypto money sector, and thus to prevent mistakes that may occur. The central bank, which actually wants to reduce the mistakes in the crypto money sector by preventing emotional payments from unqualified investors, stated the following on the subject:
We are currently working with the banking system on slowing down payments, which favors cryptocurrency exchanges and cryptocurrency companies, enabling emotional purchases of such products.”
The central bank emphasizes that it took this decision after investments in leading cryptocurrencies such as Dogecoin, Ethereum and Bitcoin and subsequent complaints.
Although cryptocurrencies have officially reached mainstream adoption, the central bank still doubts their legitimacy and may consider it a scam.
Central bank official Sergei Shvetsov said last week that investing in cryptocurrencies is risky.