The Bank of Russia recently held a meeting with Russian President Vladamir Putin, where the legal status of cryptocurrencies was discussed. Citing the belief that cryptocurrency legalization represents “a loss of control over the money flows from abroad,” the Chairwoman of Russia’s Central Bank, Elvira Nabiullina, clarified that her organization is against any type of legalization.
Earlier this month the Bank made a general announcement that revealed more of their stance on cryptocurrencies, including Bitcoin. Recalling the usual risks from fluctuating exchange rates, technical difficulties, anonymity, and the lack of a responsible issuer, the Central Bank stated clearly that its position hasn’t changed on cryptocurrencies since they declared non-state-issued currency banned in January of 2014.
The Bank of Russia recently held a meeting with Russian President Vladamir Putin, where the legal status of cryptocurrencies was discussed. Citing the belief that cryptocurrency legalization represents “a loss of control over the money flows from abroad,” the Chairwoman of Russia’s Central Bank, Elvira Nabiullina, clarified that her organization is against any type of legalization.
Earlier this month the Bank made a general announcement that revealed more of their stance on cryptocurrencies, including Bitcoin. Recalling the usual risks from fluctuating exchange rates, technical difficulties, anonymity, and the lack of a responsible issuer, the Central Bank stated clearly that its position hasn’t changed on cryptocurrencies since they declared non-state-issued currency banned in January of 2014.
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