Crypto Is Too Risky For “Most” the russiansThe country’s finance ministry has claimed. But the ministry claimed that the token could be “suitable” for “professional investors”.
according to media outlets Nizhny NovgorodThe comments were made by Ivan Chebeskov, director of the ministry’s financial policy department.
Chebeskov said that most Russians “do not consider cryptocurrencies” to be a “form of savings”.
He called the token a “high-risk financial instrument”.
But the policy department did not support a ban on crypto, or suggest that all Russians stay away from the token.
Instead, Chebeskov claimed that the coins were only suitable for “those citizens who already have” investments in “assets” such as securities and real estate.
But he warned that even these citizens should be careful.
Russian Ministry of Finance: What is its crypto stance?
Chebeskov said that “a certain amount of risk still remains” for crypto investors.
He claimed that “the volatility of cryptocurrencies can reach the 100-200% mark.”
The comments contrast with recent comments made by the Central Bank.
The same media outlet reported that the bank’s head of fintech, Kirill Pronin, warned that “investments in cryptocurrencies may be subject to restrictions.”
The bank pointed out that “more than 800” crypto wallets “belonging to individuals based in Russia” have already been blocked.
Russian policymakers have gone back and forth with proposed crypto legislation over the past few years.
while the central bank wants to ban cryptoThe ministry is in favor of regulating – and taxing – tokens.
Ministry is particularly interested Allowing crypto miners to work in Russia,
The country’s drive to de-dollarize its economy may yet turn to crypto as a stop-gap to cut international sanctions.
Lawmakers are weighing their options, some previously suggested Launching State Operated Crypto Exchange Domestic firms will be helped to do business abroad.
But top politicians distanced themselves from the plan earlier this month, suggesting foreign exchanges may be a better option for trading firms.