The head of the Central Bank, Elvira Nabiullina, said that the concept of the Ministry of Finance to regulate the cryptocurrency market does not eliminate existing risks, and the implementation of this concept may lead to new threats. The Bank of Russia sent its position on the approved concept of regulation of cryptocurrencies to the government.
“We sent our position on the concept of the Ministry of Finance to the government, and the main conclusion is that the approaches proposed by the government do not yet allow leveling the risks that we see, but at the same time create a new threat,” the head of the Central Bank said during a press call.
According to her, the risks of cryptocurrencies are reminiscent of the risks of foreign currency mortgages, and the expansion of this market may lead to a new round of development of illegal operations. Ms. Nabiullina said that now the citizens of Russia are strongly involved in the cryptocurrency market, and everything must be done so that fewer people are involved in it.
On February 8, the government published a concept for the regulation of cryptocurrencies. It assumes that users of cryptocurrencies will be divided into qualified and unqualified investors. Their protection will be ensured by the requirement for licensing crypto sites. According to the Ministry of Finance, the Russians own about 12 million crypto wallets with a ruble equivalent of 2 trillion rubles.
More about the concept – in the publication “Kommersant” “Everything secret will become mining.”