The Central Bank recommends not to allow cryptocurrency-related securities to be traded

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AK&M 22 July 2021 14:38

The Central Bank recommends that exchanges not allow securities of Russian and foreign issuers to be traded, payments for which depend on cryptocurrency exchange rates, prices for foreign digital financial assets, changes in the indices of cryptocurrencies and crypto assets, as well as the cost of crypto derivatives and securities of cryptocurrency funds. This is reported in the information letter of the regulator.

Management companies should not include these assets in mutual funds, and brokers and trust managers are recommended to refrain from offering pseudo-derivative financial instruments with such underlying assets to unqualified investors, the letter says.

The restrictions do not apply to digital national currencies in the case of their release into circulation. They also do not apply to digital financial assets issued under Russian law in information systems whose operators are included in the register of the Bank of Russia.