Cbank says cryptocurrencies may undermine money circulation
MOSCOW, Sep 8 (PRIME) -- The Russian central bank will not authorize the use of cryptocurrencies as money surrogates, because active settlements in them for goods and services will create the risk of disrupting money circulation, Chairwoman Elvira Nabiullina said on Friday at the Moscow Financial Forum.
“Risks do exist here, and we’ve spoken about them: they include anonymity of transactions, an opportunity of their exploitation in financing of terrorism and illegal incomes,” Nabiullina said.
Another risk is that cryptocurrencies may be used as money surrogates in settlements for goods and services, she said.
“We think that it implies the risk of undermining money circulation, and, certainly, we won’t allow the use of cryptocurrencies as money surrogates,” Nabiullina said.
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