The Central Bank urged banks to slow down payments to crypto exchanges due to

The Central Bank urged banks to slow down payments to crypto exchanges due to “emotional purchases”

Photo: GLOBAL LOOK PRESS

The Bank of Russia began working with financial institutions to restrict the operation of crypto-exchanges. As reported First Deputy Chairman of the Central Bank Sergey Shvetsov at the international banking forum “Banks of Russia – XXI century”, the Central Bank called on banks to slow down payments in favor of crypto-exchanges in order to avoid “emotional purchases” of cryptocurrencies by the population.

The first deputy chairman of the Central Bank regulator noted that cryptocurrencies represent a high-tech financial pyramid, which can “fall apart to zero” for many reasons. Shvetsov called the crypto exchanges a “minefield”, since the Central Bank does not protect operations with cryptocurrency and there are risks associated with its storage.

As the site kp.ru wrote, earlier Kremlin spokesman Dmitry Peskov stated that Russia is not ready to recognize bitcoin as an official means of payment, since the full recognition of cryptocurrency as a payment instrument will do nothing but harm the financial and economic system.

We will remind, in August 2021 in the American Miami launched the first official city cryptocurrency MiamiCoin.

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