Bank of Russia asks stock exchanges not to list crypto companies

Monday 26 July 2021 11:34 CET | News

The Bank of Russia has issued a recommendation for local stock exchanges asking them not to list stocks of any companies with their businesses tied to cryptocurrencies.

The letter particularly specified the prohibited companies that depend on cryptocurrency rates, prices for foreign digital financial assets, changes in cryptocurrency, and crypto-asset indices. Additionally, the regulator does not want the listing of crypto derivatives and securities of cryptocurrency funds.

Furthermore, the central bank instructed the fund mutual fund managers, brokers, and trustees not to include companies with crypto exposure in their managed portfolios.

But the recommended restrictions are only for retail investors as professional and accredited investors will still be allowed to invest in crypto-related company stocks.

The Russian regulator clarified that its restrictions do not apply to Central Bank Digital Currencies and other digital financial assets issued under Russian law in information systems whose operators are included in the register of the Bank of Russia.

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Keywords: banks, cryptocurrency, regulation, digital assets
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Russian Federation
This article is part of category

Blockchain & Cryptocurrencies