Comment on Russian c.bank proposes banning cryptocurrencies, crypto mining

Russian c.bank proposes banning cryptocurrencies, crypto mining

Representations of virtual cryptocurrencies are seen in this illustration taken November 28, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoRussia's central bank on Thursday proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens' wellbeing and its monetary policy sovereignty.The move is the latest in a global cryptocurrency crackdown as governments from Asia to the United States worry that privately operated highly volatile digital currencies could undermine their control of financial and monetary systems.Russia has argued for years against cryptocurrencies, saying they could be used in money laundering or to finance terrorism.

 

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