The management of the Bank of Russia strongly opposes the recognition of bitcoin as a legal payment instrument. The head of the Central Bank Elvira Nabiullina, periodically confirms her tough position and calls BTC a fraud and a financial pyramid.
Soon, the regulator promises to publish its research on the situation in the crypto market.
As noted by the deputy chairman of the Central Bank, Ksenia Yudaeva, the report is ready. It contains a detailed analysis of trends in the digital asset market. Over the next few weeks, the Bank of Russia plans to publish this study.
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According to Yudaeva, many large domestic banks are directly or indirectly involved in transactions with digital currencies.
Analysts of the Central Bank earlier released an overview of the state of the financial sector of the Russian Federation. It is said that the annual turnover of the Russian crypto market is $ 5 billion or 350 billion.
The regulator again pointed to the risks posed by innovative instruments and called on the central banks of other countries to develop a system for monitoring bitcoin transactions. If such a service appears, then states will be able to fight the criminal use of cryptocurrencies.