The Central Bank of the Russian Federation (CBRF) demanded on Thursday that cryptocurrency trading, mining, and usage be prohibited in the country because they pose a threat to the well-being and financial stability of the Russian people and the country’s economy.
According to a report issued by the central bank on Thursday, cryptocurrency exhibits all of the characteristics of a pyramid scheme and poses a danger to monetary policy autonomy. A statement from the central bank said that cryptocurrency growth posed a danger to Russia’s financial system as well as the country’s currency, the ruble.
A further statement from...
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