The Central Bank linked the legalization of cryptocurrencies with a financial pyramid

According to the Deputy Chairman of the Central Bank, the legalization of cryptocurrencies can create conditions for the growth of citizens’ investments in highly speculative instruments

Photo: Mikhail Tereshchenko / TASS

The legalization of the circulation of cryptocurrencies can create conditions for a large-scale growth of citizens’ investments in a highly speculative instrument, which is actually a financial pyramid. It is reported “RIA News” with reference to the answer of the First Deputy Chairman of the Central Bank Ksenia Yudaeva to the proposals of the State Duma deputy from United Russia Anton Gorelkin.

“We believe that the legalization of the circulation of cryptocurrencies can create conditions for a large-scale growth of citizens’ investments in a highly speculative instrument, which is actually a financial pyramid,” the document says.

March 8 Gorelkin urged authorities to support the creation of Russian cryptocurrency exchanges. “The crypto community has not yet managed to go beyond the borders of states, to create an independent international ecosystem. And this means that the emergence of the Russian national cryptocurrency infrastructure is inevitable: we will have our own wallet and our own exchanges. I am aware of several promising domestic projects in this area, and I am sure that the state needs to support their development – in the current situation, this should become one of our priorities, ”the deputy wrote in his Telegram.

Novak announced the need to legalize cryptocurrency mining in Russia

Photo: Andrey Rudakov / Bloomberg

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