Russia’s Central Bank Seeks to Ban Crypto Issuance and Circulation

After years of uncertainty about its cryptocurrency regulation, Russia is further confusing its proposed crypto law as the country’s central bank made yet another statement on the issue.

According to a legal executive at the Bank of Russia, the country’s major but still unfinalized cryptocurrency legislation — a bill “On Digital Financial Assets” — will ban the issuance and circulation of cryptocurrencies.

Alexey Guznov, head of the legal department at Russia’s central bank, revealed the news in an interview with local news agency Interfax on March 16.

Issuance and circulation of crypto in the country poses an “unjustified risk”

Although the original bill “On Digital Financial Assets” stipulated that cryptocurrency trading would be allowed in Russia, the amended document will apparently prohibit nearly everything about crypto except holding, according to Guznov’s latest remarks.

The official said that the upcoming law will explicitly prohibit the issuance and…