The Central Bank of the Russian Federation recommended that Russian stock exchanges not admit shares of companies whose value depends on cryptocurrency rates from trading.
Russian exchanges should not admit to trading securities of not only Russian, but also foreign issuers, if their value depends on the rates of cryptocurrencies. The Central Bank of the Russian Federation announced this in an official resolution.
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The Central Bank explained the anti-cryptocurrency policy by the desire to protect the rights and interests of investors, as well as the intention to “maintain confidence” in the domestic financial market. Restrictions apply to all derivatives of cryptocurrencies: from virtual assets to indices based on them.
“Brokers and trustees are advised to refrain from offering pseudo-derivative financial instruments with such underlying assets to unqualified investors,” the Central Bank said.
However, the restrictions do not apply to “digital national currencies”, the Central Bank said. The regulator also excluded from the blacklist digital financial assets issued “under Russian law in information systems, the operators of which are included in the register of the Bank of Russia.” Regarding the cryptocurrencies themselves, the regulator said that they are characterized not only by high volatility, but also by low liquidity.
Read also: Russia lags behind the US in Bitcoin regulation by 10 years
However, not everyone shares the position of the domestic Central Bank.
Recall that at the end of April Tesla sold 10% of its Bitcoin reserves (~ $ 272 million). Then the head of the company, Elon Musk, said that the sale proved the liquidity of bitcoin as an alternative to keeping funds on the balance sheet.
Earlier, the editorial staff of BeInCrypto wrote that according to a survey by the Center for Research in Financial Technologies and Digital Economy SKOLKOVO-NES, every fifth Russian is “categorically against” the digital ruble. Read about how Russia “rolled” to the digital ruble in a special material from BeInCrypto.
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