Russia’s Central Bank Proposes Banning Cryptocurrencies In The Country: Analyst Reveals Its Impact
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https://br.sputniknews.com/20220122/banco-central-da-russia-propoe-proibir-criptomoedas-no-pais-analista-revela-qual-seria-o-impacto-21125044.html
Russia’s Central Bank Proposes Banning Cryptocurrencies In The Country: Analyst Reveals Its Impact
Russia’s Central Bank Proposes Banning Cryptocurrencies In The Country: Analyst Reveals Its Impact
According to the co-founder and COO of cryptocurrency portal Coingecko, even if Russia loses tax revenue from cryptocurrency mining, … 01.22.2022, Sputnik Brasil
2022-01-22T21:03-0300
2022-01-22T21:03-0300
2022-01-22T21:03-0300
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Bobby Ong, co-founder and COO of crypto portal Coingecko, believes that a ban on cryptocurrencies in Russia proposed by the country’s central bank could affect their value, though not by much compared to other major markets. They will be forced to move abroad, depriving the country of tax revenue,” commented the analyst. It will depend on the details of the eventual ban or restriction, with Bobby Ong using the example of China, which has banned cryptocurrencies several times, but with each successive ban “which has become more and more More Overburdened”, the largest cryptocurrency exchange, said it was ready to talk to Russia about the proposed regulation of the sector. A spokesperson for the service said it was ready to discuss the interests of good Russian crypto users, adding that it takes compliance obligations seriously and is committed to working with regulators to create policies that protect users. It encourages innovation and makes the industry move. On Thursday (20) the Central Bank of Russia published a report in which it indicated several proposals for regulating cryptocurrencies in the country, among which is the ban on the use of the infrastructure of the national financial market for any operations. In addition, the organization wants to ban the issuance and regulation of trading and exchange Cryptocurrencies in Russia, as well as mining.
https://br.sputniknews.com/20220120/por-alto-grau-de-risco-banco-central-da-russia-pede-proibicao-da-mineracao-de-criptomoedas-21096647.html
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China, Central Bank, Federal Reserve (Fed), USA, Central Bank of Russia, Europe, Russia, Sputnik, Federal Reserve, Bitcoin, Cryptocurrencies
According to the co-founder and COO of cryptocurrency portal Coingecko, even if Russia loses tax revenue from cryptocurrency mining, the industry will continue to operate in the rest of the world.
Bitcoin price [bitcoin] It is largely dictated by macro moves these days, especially Fed decisions [Reserva Federal, banco central] from the United States of America. Ong told Sputnik that the ban in Russia may affect the price, but perhaps not to the same extent compared to the ban in China or the United States.
He noted that cryptocurrencies will continue to advance globally outside of Russia.
In the view of co-founder Coingecko, the future of the sector in Russia will depend on the details of the eventual ban or restriction, with Bobby Ong using the example of China, which has banned cryptocurrencies several times, but with each successive ban “getting more and more cumbersome.”
“The recent ban in China has effectively shut down cryptocurrencies for most retail users, and also removed the crypto-mining industry from China. Previous bans in Beijing weren’t strict – exchanges can still operate and miners still operate freely,” he explained.
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