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Only for foreign trade: Bank of Russia stands against free crypto investment

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“It will be impossible to prevent this”: Crypto will inevitably become a means of payment if you allow it as an investment instrument, the Bank of Russia deputy governor said.

The Russian central bank is ready to consider allowing cryptocurrency use within the country but only as part of a legal experiment, governor Elvira Nabiullina said.

While Russia formally does not prohibit its people from investing in crypto, the Bank of Russia believes that the mass adoption of crypto would inevitably lead to its use as a payment method, according to Bank of Russia deputy governor Alexey Zabotkin. He stated:

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