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Ban on holding cryptocurrencies not suggested, says Russian Central Bank

Director of the regulator’s Financial Stability Department Elizaveta Danilova noted that there were fraud risks, as well as difficulties in asserting rights when acquiring cryptocurrency on foreign crypto exchanges

MOSCOW, January 20. /TASS/. The Bank of Russia does not plan to offer a ban on holding cryptocurrencies by citizens, Director of the regulator’s Financial Stability Department Elizaveta Danilova told a briefing on Thursday.

"We note that we do not suggest that holding cryptocurrencies by citizens be banned," she said, adding though that there are fraud risks, as well as difficulties in asserting rights when acquiring cryptocurrency on foreign crypto exchanges.

The Russian Central Bank published a report earlier on Thursday, proposing to ban the issuance, mining and circulation of cryptocurrencies in the country.