Bank of Russia calls for all-out ban on cryptocurrencies

High volatility and fraud

clock • 1 min read
$2.3trn market cap

$2.3trn market cap

The Bank of Russia has called for a full ban on cryptocurrencies in the country, citing high volatility and “proliferation of fraud” as key reasons.

The bank noted that the global cryptocurrency market surged over the past year, hitting a market capitalisation of $2.3trn in December 2021. In a statement on Thursday (20 January), Bank of Russia said:...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Alternatives