Russia Seeks to Halt Crypto Sales By This Coming Spring

Russia is officially looking to ban the sale and issuance of cryptocurrencies.

Russia Says “No” to Crypto

The country – continuing its love-hate relationship with digital currency – has warned that its pending bill seeking to ban crypto activity within the country’s borders stems from the ongoing panic caused by the coronavirus pandemic. Regulators say that now, more than ever, bitcoin and its altcoin cousins are showing their volatility to be extremely dangerous, and that it’s simply not safe to allow operations surrounding crypto in the coming future.

Alexey Guznov – the legal head of Russia’s central bank – explained in a statement:

We believe there are big risks of legalizing the operations with the cryptocurrencies, from the standpoint of financial stability, money laundering prevention and consumer protection. We are opposed to the fact that there are institutions that organize the release of cryptocurrency and facilitate its circulation.

Guznov clarifies that…