Those in the know: The Central Bank of Russia has decided to ban all cryptocurrency investments while taking a tough stance

According to Reuters, a source close to the Central Bank of Russia said that the Central Bank of Russia is considering a ban on all investments in digital cryptocurrencies.

If this information is true, any investment made prior to the enactment of the policy will not be affected, but there will be no new investment. According to foreign media reports, the Russian Central Bank is in talks with market experts and investors on the ban on the use of cryptocurrency. A source said the banking industry in the midst of cryptocurrency mining is tough.

Reuters said it was preparing a statement to explain Russia's cryptocurrency financial institution, but details were not disclosed. This isn't the first time that Russia has decided to protect cryptocurrencies, and Russia has banned cryptocurrencies for some time since 2020, citing allegations of money laundering and financial fraud.

IT Academy recognizes that the Central Bank of Russia has in the past supported the digital ruble currency and has gradually restricted the use of cryptocurrencies. According to the latest statistics, Kazakhstan is now the second largest cryptocurrency mining farm in the world and the country is bursting with electricity. To facilitate the transport of electricity, the state must purchase electricity from Russian power companies.