Approved Yesterday, Warned Today! Bitcoin and Cryptocurrency Statement from the Central Bank of Russia!

The Central Bank of Russia, which approved the purchase of Bitcoin and cryptocurrencies yesterday, issued a warning today.

Deputy Chairman of the Central Bank of Russia Vladimir Chistyukhin, who attended the Financial Markets Forum held in Moscow, made statements about cryptocurrency transactions.

Warning investors about crypto transactions, Chistyukhin stated that they find all transactions made with crypto money very risky and that these transactions are in the 'gray zone' in terms of security.

Emphasizing that inexperienced investors need to be protected in cryptocurrencies, Çistyukhin added that they are working on determining the processes for transactions with cryptocurrencies with specific legislation.

“We believe that trading and investing in cryptocurrencies is an extremely risky activity and that unqualified investors should be protected from such activities to the extent possible.”

Çistyukhin stated that the Russian infrastructure will be used for these transactions in the regulations regarding cryptocurrency transactions.

Approval for Bitcoin(BTC) and Cryptocurrencies!

As you may recall, the Central Bank of Russia announced that it will allow investors to buy cryptocurrencies on a limited basis. Accordingly, it was stated that only particularly qualified individual investors, institutional qualified investors and financial institutions will be eligible to trade with cryptocurrencies.

*This is not investment advice.