According to the news of Sputnik from Moscow, the Central Bank of Russia announced on Thursday, amid significant risks to economic and financial stability. Cryptocurrency mining in Russiacalled for a ban.
In a report by the regulators, “The Bank of Russia believes that the current scale and further spread of cryptocurrency mining in Russia poses significant risks to the economy and financial stability.” expressions were used.
The bank believes that mining creates an inefficient consumption of electricity and jeopardizes the energy supply of residential and social infrastructure buildings.
The report states, “In this context, Central Bank of RussiaAccording to , the best solution is to impose a ban on cryptocurrency mining in Russia.” sentence was formed.
The Central Bank of Russia said in a report released Thursday that the purchase of cryptocurrencies could directly threaten the well-being of citizens, adding that such investments pose risks to the financial market.
“Cryptocurrency The purchase of units by citizens poses a direct threat to their well-being, there is no guarantee of the return of these funds. If such investments are distributed en masse, this can lead to the realization of social risks.”
The financial stability risks from the use of cryptocurrencies are still limited, but will increase significantly with greater citizen participation, the report said.
The Central Bank also noted that there are risks of ballooning in the growing cryptocurrency market. He also proposed to ban the issuance, circulation and exchange of cryptocurrencies in Russia.
The regulator added that certain tools need to be developed to block transactions aimed at buying or selling cryptocurrencies for fiat currency.