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The Central Bank of Russia considers crypto currency to be an unreliable way of investing funds

Representatives of the regulator do not believe in digital assets.

25.May.18 7:35 AM
By Shawn Highstraw


The Central Bank of Russia considers crypto currency to be an unreliable way of investing funds
Officials and experts in the financial market have expressed conflicting views on the future of the Crypto-currency. And if some consider virtual money as a reliable way of investing, others - warn investors against buying the same bitcoins. Supporters and opponents of the use of digital assets are in Russia. It should be noted that representatives of government bodies and state organizations tend to be rather cautious about crypto-currencies.

Thus, the head of the Central Bank of Russia Elvira Nabiullina said that digital assets can hardly be equated to currencies. As she said, it, more likely, "криптонечто". "Whether it's an asset, whether it's property, or it's rights - there are such disputes, because this phenomenon is not completely understood," she noted.

Recall that currently in Russia are discussing a draft law designed to regulate relations in the emerging market. In particular, the work of legislators involves the introduction of clarifications in the conceptual apparatus.

Elvira Nabiullina also noted that crypto-currencies are a highly speculative volatile asset, therefore they can not be considered as a safe instrument for saving savings.

Previously, the Ministry of Finance reported that the crypto currency will not be recognized as a means of payment.

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