Cryptocurrency ban gets serious in Russia

Russia’s new digital assets law envisions that buying, selling, or circulating crypto money will be banned.

It is stated in the digital assets law, which is expected to be released in Russia, for the purchase and sale of cryptocurrency is prohibited.

Bank of Russia (BoR) looks hot on digital financial assets, and even tested a virtual tokenization project last December. Despite all this, Alexey Guznov, the head of the bank’s legal department, said in an interview with the Russian News Agency Interfax that they believed that the purchase and sale of crypto money was not correct.

According to CoinDesk from Interfax, Guznov said, “We believe that there are risks of financial stability, prevention of money laundering and legalization of transactions with cryptocurrencies for consumer good.” said.

The bank has pursued an active policy on the digital asset law, which has been pending discussion in the Russian parliament since last spring. Even the cryptocurrency tokens have…