The Central Bank issued recommendations on limiting crypto transactions in the Russian Federation

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The Bank of Russia has published recommendations for financial institutions aimed at reducing risks for citizens from transactions with cryptocurrencies. This is stated in Message regulator

The Central Bank specifically recommends that banks do not advertise services for the circulation of cryptocurrencies and related financial instruments.

Banks are also asked to identify transactions involving the buying or selling of cryptocurrencies using fake accounts. In such cases, additional documents may be requested from customers and they may be classified as more risky.

Additionally, the Central Bank recommends that crypto asset market operators do not issue or engage in assets whose profitability depends on the value of digital currencies.

The recommendations do not apply to digital currencies of central banks and digital rights granted under Russian law.

Former crypto expert appreciated The possibility of closing access to crypto exchanges in the Russian Federation.

Formerly Central Bank in the name Explain to Russians the principles of working with cryptocurrency.

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