The Russians caught crypto fever

28.11.2021. / 13:30

MOSCOW – The total annual volume of transactions in cryptocurrencies performed by Russian citizens in 2021 amounts to five billion dollars, according to the latest data from the Russian Central Bank.

Foto: Pixabay

In a new report on financial stability, the Russian monetary regulator stated, referring to a survey conducted in July among the largest domestic banks, that the Russians are among the most active participants in world cryptocurrency markets, including their activities on the cryptocurrency exchange Byance. also.

Central bank experts pointed to investor enthusiasm for new technologies, such as blockchain, smart contracts, decentralized finance and stable coins (digital currencies that rely on the state currency, or other cryptocurrencies, or gold).

However, the Bank of Russia pointed out in the report the great risks associated with the crypto industry and said that it would closely monitor the market.

“The relationship between digital currencies and the financial sector remains limited for now. Rapid growth and widespread adoption of digital currencies would pose an increased risk both globally and in the Russian financial market. ”, estimates the Bank of Russia.

Earlier this year, the central bank warned people to stay away from cryptocurrency activities, noting that it is a risk, especially for those who lack knowledge in that area. Tanjug

Source: – Informacija je capital by

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