The Central Bank of Russia (CBR) Chairperson, Elvira Nabiullina recently confirmed in a press conference that the country has no plans to follow the U.S. Securities and Exchange Commission (SEC) authorization of Bitcoin ETFs listing.
Bank of Russia anti-crypto stance
The governor’s statement has followed the Bank of Russia’s long-term anti-crypto stance. Earlier this year, CBR published a statement, recommending the Russian stock exchanges to not permit the trading of domestic or foreign securities along with the dividend payments that “depend on cryptocurrency rates”, in lieu of preventing the risks of volatility, opaque financial activities, low liquidity, and more. The bank emphasized the risk factor, noting that with high gaining potential, the risk of losing large sums of money also becomes common for retailers with a lack of experience in the industry.
The bank listed the prices of foreign digital financial assets, changes in cryptocurrency and crypto-asset indices as we
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