• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Russian Central Bank Bans Mutual Funds From Investing In Bitcoin (BTC)

190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin is at $67K but analysis warns BTC price could drop 10% next

Bitcoin is at $67K but analysis warns BTC price could drop 10% next

May 20, 2024
Avalanche (AVAX) price is among the few altcoins that have dropped sharply

Avalanche (AVAX) price tag is amid the couple of altcoins that have dropped sharply – Bitcoin News 2024

April 16, 2024

The Central Bank of Russia continues to introduce rigid policies concerning the cryptocurrency sector, officially banning mutual money from investing in Bitcoin (BTC).

Russian Central Bank Bans Mutual Funds From Investing In Bitcoin (BTC)
Russian Central Bank Bans Mutual Funds From Investing In Bitcoin (BTC)

On December 13, the Central Bank of Russia issued an official statement on the regulation of investment options for mutual money. Despite the growth in the variety of assets accessible for investment by mutual money, the new document prohibits fund managers from acquiring cryptocurrencies and money instruments whose worth depends on the selling price of the cryptocurrency.

The report highlights that mutual money are not permitted to provide publicity to cryptocurrencies to certified or unsuitable traders. The Central Bank of Russia had previously encouraged asset managers to exclude cryptocurrencies from publicity to mutual money by July 2021.

– See much more: Russia says it is not prepared to accept Bitcoin as fiat currency

As reported by regional information company RBC, no Russian mutual money have been exposed to cryptocurrencies prior to the ban. Artem Deev, chief of examination at brokerage company AMarkets, explained that Russia has so far only had a single sector-associated ETF.

According to Deev, the fund is managed by equity management company BrokerCreditService and invests in businesses targeted on DeFi and blockchain information storage, which include CEO Jack Dorsey’s Square (now renamed Block), PayPal and Broadcom.

Russia’s biggest financial institution, Sber, is also reportedly setting up to launch a blockchain-targeted ETF, as exposed by Vasily Illarionov, head of asset management at Sber. Illarionov mentioned that the Sber ETF is not topic to the restrictions of the Russian Central Bank and can be made available to retail traders.

In the previous, the Central Bank of Russia has repeatedly taken a challenging stance on cryptocurrencies and has banned many substantial banking institutions from supplying cryptocurrency investment providers, arguing that this kind of providers are not satisfactory. The gains to traders and the degree of possibility they carry are. substantial. However, actuality displays that, in contrast to China, Russia has no intention of totally banning this area.

Although crypto payments in Russia are prohibited, Russians are permitted to obtain and trade Bitcoin (BTC). Additionally, some Russian government companies recommend that cryptocurrency mining ought to be legal. Even President Vladimir Putin himself admitted that Bitcoin seriously does have worth.

Synthetic Currency 68

Maybe you are interested:

Maybe you are interested:

Tags: BankbansBitcoinBTCCentralfundsinvestingMutualRussian
Share76Tweet48

Related Posts

Flare Token Surges Amid XRP Integration Announcement

by shark
June 2, 2025
0

Flare (FLR) witnessed a 10.61% surge on June 2, 2025, after announcing its XRP integration, showcasing its potential within decentralized...

Elon Musk Introduces XChat with New Encryption Features

by shark
June 2, 2025
0

Elon Musk unveils XChat on the X platform, promising Bitcoin-style encryption, raising industry skepticism.

James Wynn Halts Trading After Massive Loss

by shark
June 2, 2025
0

James Wynn, a prominent trader, suspended trading after a high-leverage strategy led from $4 million gains to $100 million, then...

Metaplanet Acquires 1,088 BTC Expanding Holdings Significantly

by shark
June 2, 2025
0

Japan's Metaplanet has acquired 1,088 more Bitcoin for $117.7 million, positioning it among the top ten global holders.

Bitcoin ETFs See $157 Million Outflow Ending Inflows Streak

by shark
June 2, 2025
0

The Bitcoin ETFs experience a net outflow of $157 million, ending six-week inflow streaks, reflecting shifts in investor sentiment due...

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Flare Token Surges Amid XRP Integration Announcement
  • Elon Musk Introduces XChat with New Encryption Features
  • James Wynn Halts Trading After Massive Loss
  • Metaplanet Acquires 1,088 BTC Expanding Holdings Significantly
  • Bitcoin ETFs See $157 Million Outflow Ending Inflows Streak
  • Nervos Network’s Force Bridge Compromised in $3M Hack
  • BitoPro Hack: $11.5 Million Lost in Taiwan
  • US Congress Moves to Introduce New Crypto Legislation
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7