Coinscreed
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • DeFi
    • Blockchain News
  • Market Analysis
  • NFT
  • Metaverse
  • Cryptocurrencies
  • Learn
    • Bitcoin 101
    • Ethereum 101
    • Binance Smart Chain
    • DeFi 101
    • Ripple 101
    • ICO 101
    • Trading 101
    • Dogecoin 101
    • Lightening Network
    • NFT 101
  • Crypto How Tos
Advertise
No Result
View All Result
  • bitcoinBitcoin(BTC)
    $30,396.001.98% 24H
    BITCOIN
    24H : 1.98%
    Volume : $23,459,879,790.00
    Marketcap : $578,777,521,399.00
  • ethereumEthereum(ETH)
    $2,078.802.81% 24H
    ETHEREUM
    24H : 2.81%
    Volume : $15,232,721,711.00
    Marketcap : $250,442,855,625.00
  • binancecoinBNB(BNB)
    $301.033.50% 24H
    BNB
    24H : 3.50%
    Volume : $1,175,371,584.00
    Marketcap : $50,630,277,129.00
  • rippleXRP(XRP)
    $0.4312.05% 24H
    XRP
    24H : 2.05%
    Volume : $2,098,663,136.00
    Marketcap : $20,989,954,701.00
  • cardanoCardano(ADA)
    $0.57810.19% 24H
    CARDANO
    24H : 10.19%
    Volume : $1,012,988,359.00
    Marketcap : $19,551,229,427.00
  • terra-lunaTerra(LUNA)
    $0.00026-29.89% 24H
    TERRA
    24H : -29.89%
    Volume : $2,643,256,060.00
    Marketcap : $1,709,765,681.00
Coinscreed
No Result
View All Result
homerun token
Home News

Bank of Russia instructs local exchanges not to list stocks by crypto-related firms

Chide Austin by Chide Austin
10 months ago
in News
Reading Time: 3 mins read
A A
Share on FacebookShare on Twitter
New stock exchange recommendations from the Bank of Russia do not apply to central bank digital currencies or permitted digital assets issued in Russia, according to the bank.
Bank of Russia instructs local exchanges not to list stocks by crypto-related firms

Due to the increasing number of global cryptocurrency companies considering going public, the Russian central bank has publicly advised local exchanges to avoid listing any cryptocurrency-related listings.

Earlier this week, the Bank of Russia released an information letter in which it requested that Russian stock exchanges refrain from listing foreign and domestic companies that are engaged in a broad variety of crypto-related services.

SuggestedArticles

Nigeria Announces New Crypto Asset Rules

Nigeria Market Regulator Announces New Crypto Asset Rules

2 days ago
Tron's New Addition Takes Stablecoin Supply Beyond $1 Billion

Tron’s New Addition Takes Stablecoin Supply Beyond $1 Billion

2 days ago

To be specific, the central bank stated that local exchanges should not list stocks issued by companies whose business is dependent on the performance of the cryptocurrency market, which includes digital financial assets issued outside of Russia, crypto-tracking indexes, as well as cryptocurrency derivatives and crypto funds, among others.

The Bank of Russia also advised asset managers to eliminate these securities from mutual funds, according to the Financial Times.

The bank highlighted that stock exchanges should avoid offering exposure to these investing services to non-accredited clients in particular, according to the bank.

“The Bank of Russia’s recommendations aim at a preventive measure — they are designed to prevent a mass investor adoption of such instruments,” the bank stated in an official notice published on Thursday. According to the statement, the guidelines do not apply to central bank digital currencies or recognised digital assets issued by Russian financial institutions.

Following that statement, the central bank stated that cryptocurrencies and digital assets are associated with high volatility, opaque price discovery, low liquidity, as well as technological and regulatory issues. According to the bank, “Purchases of financial instruments linked to such assets entail increased risks of losses for people who do not have sufficient experience and knowledge,”

The Bank of Russia’s recent step demonstrates the institution’s reluctance to embrace the cryptocurrency industry, which is reminiscent of prior restrictions in nations such as China, according to the Financial Times. Since the beginning of this year, the Russian central bank has prohibited big local banks such as Tinkoff from offering cryptocurrency trading services.

Tags: BankcryptoDigital currenciesRussiaStock Exchange

BTC365

Coinscreed

Copyright © 2022 Coinscreed

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Crypto Price Charts

Follow Us

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • DeFi
    • Blockchain News
  • Market Analysis
  • NFT
  • Metaverse
  • Cryptocurrencies
  • Learn
    • Bitcoin 101
    • Ethereum 101
    • Binance Smart Chain
    • DeFi 101
    • Ripple 101
    • ICO 101
    • Trading 101
    • Dogecoin 101
    • Lightening Network
    • NFT 101
  • Crypto How Tos

Copyright © 2022 Coinscreed

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.