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Central Bank: Too early to admit crypto-currency to trading in Russia

September 04, 21:51 UTC+3 MOSCOW

Earlier, Russia's deputy finance minister said that operations with the crypto-currency in Russia could be carried out on the Moscow Exchange

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MOSCOW, September 4. /TASS/. The Bank of Russia considers it premature to admit crypto-currencies, as well as any financial instruments nominated or attached to crypto-currencies, to circulation and use at organized auctions in the Russian Federation, the regulator said in a statement.

"Given the high risks of circulation and use of the crypto-currency, the Bank of Russia considers it premature to admit crypto-currencies, as well as any financial instruments nominated or associated with crypto-currencies, to circulation and use at organized trading," the regulator said.

The Bank of Russia also draws the attention of citizens and all participants of the financial market to increased risks of using and investing in crypto-currencies.

The regulator recalled that most operations with crypto-currencies are carried out outside the legal regulation of the Russian Federation, the Bank of Russia provides no guarantees on crypto-currencies.

Earlier, Deputy Finance Minister Alexei Moiseyev, said in an interview with Rossiya 24 TV channel, that operations with the crypto currency in Russia could be carried out in the future on the Moscow Exchange, but exclusively by qualified investors.

The Finance Ministry and the Bank of Russia are developing proposals for the legalization of operation with crypto currency in Russia. Head of the Financial Market Committee at the State Duma (low house of parliament) Anatoly Aksakov informed TASS that the concept of the draft law on the circulation of crypto-currency will be prepared this fall.

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