15 Feb 2024, 12:23

Bank of Russia says banking sector not fully embracing crypto

The regulator sees how cryptocurrencies are used for investment, the increase in cross-border household and foreign economic settlements over the 2-3 years

YEKATERINBURG, February 15. /TASS/. Russia’s Central Bank believes that the banking sector is not dealing in crypto enough, the regulator’s Deputy Governor Olga Polyakova told a forum.

"Speaking about direct purchases of cryptocurrencies via foreign crypto exchanges, we view the banking sector’s dealings with such operations as insufficient as of today," she said.

The Central Bank sees how cryptocurrencies are used for investment, the increase in cross-border household and foreign economic settlements over the 2-3 years, the official said, adding however that the share of such transactions in Russia’s overall legal financial market is not high.

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Central Bank of Russia

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