Russia Will Ban the Issuing and Selling of Cryptocurrencies

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    A senior Russian official says an upcoming digital assets bill will ban the issuing and selling of cryptocurrencies. Forbes reports: “We believe there are big risks of legalizing the operations with the cryptocurrencies, from the standpoint of financial stability, money laundering prevention and consumer protection,” Russia’s central bank head of legal, Alexey Guznov, told Russia news agency Interfax this week in comments translated to English via Google. “We are opposed to the fact that there are institutions that organize the release of cryptocurrency and facilitate its circulation,” Guznov said, adding the coming bill “directly formulates a ban on the issue, as well as on the organization of circulation of cryptocurrency, and introduces liability for violation of this ban….” However, Guznov admitted that Russia would not be able to completely ban bitcoin and other cryptocurrencies. “Nobody is going to ban owning cryptocurrencies,” Guznov said, adding people will not be punished for owning crypto “if they made their deal in a jurisdiction that does not prohibit that.” Read more of this story at Slashdot.

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