Russia's central bank calls for crypto crackdown
-
Rune destroys Khachanov to reach Barcelona Open final
-
From Messi to Trump, AI action figures are the rage
-
Vance discusses migration during Vatican meeting with pope's right-hand man
-
Afghan FM tells Pakistan's top diplomat deportations are 'disappointment'
-
British cycling icon Hoy and wife provide solace for each other's ills
-
Money, power, violence in high-stakes Philippine elections
-
Iran, US hold second round of high-stakes nuclear talks in Rome
-
Japanese warships dock at Cambodia's Chinese-renovated naval base
-
US Supreme Court pauses deportation of Venezuelans from Texas
-
Pakistan foreign minister arrives in Kabul as Afghan deportations rise
-
Heat and Grizzlies take final spots in the NBA playoffs
-
Iran, US to hold second round of high-stakes nuclear talks in Rome
-
Humanoid robots stride into the future with world's first half-marathon
-
Migrant's expulsion puts Washington Salvadorans on edge
-
Plan for expanded Muslim community triggers hope, fear in Texas
-
Pakistan foreign minister due in Kabul as deportations rise
-
White House touts Covid-19 'lab leak' theory on revamped site
-
Dodgers star Ohtani skips trip to Texas to await birth of first child
-
How Motorcycling Builds Life-Long Friendships
-
SFWJ / Medcana Announces Strategic Expansion Into Australia With Acquisition of Cannabis Import and Distribution Licenses
-
US senator says El Salvador staged 'margarita' photo op
-
Ford 'adjusts' some exports to China due to tariffs
-
Thomas maintains two-shot lead at RBC Heritage
-
US to withdraw some 1,000 troops from Syria
-
Four killed after spring storms wreak havoc in the Alps
-
Spurs' Popovich reportedly home and well after 'medical incident'
-
Trump goes to war with the Fed
-
Celtics chase second straight NBA title in playoff field led by Thunder, Cavs
-
White House site blames China for Covid-19 'lab leak'
-
Norris edges Piastri as McLaren top Jeddah practice
-
Trump warns US could ditch Ukraine talks if no progress
-
Judge denies Sean 'Diddy' Combs push to delay trial
-
80 killed in deadliest US attack on Yemen, Huthis say
-
Lebanon says two killed in Israeli strikes in south
-
Trump says US will soon 'take a pass' if no Ukraine deal
-
F1 success is 'like cooking' - Ferrari head chef Vasseur
-
Cycling mulls slowing bikes to make road racing safer
-
Macron invites foreign researchers to 'choose France'
-
Klopp 'happy' in new job despite Real Madrid rumours: agent
-
Alcaraz into Barcelona semis as defending champion Ruud exits
-
Vance meets Italy's Meloni before Easter at the Vatican
-
Evenepoel returns with victory in Brabantse Pijl
-
Maresca confident he will survive Chelsea slump
-
Mob beats to death man from persecuted Pakistan minority
-
Lebanon says one killed in Israeli strike near Sidon
-
Arsenal's Havertz could return for Champions League final
-
US officials split on Ukraine truce prospects
-
Client brain-dead after Paris cryotherapy session goes wrong
-
Flick demands answers from La Liga for 'joke' schedule
-
'Maddest game' sums up Man Utd career for Maguire
Russia's central bank calls for crypto crackdown
The Russian central bank proposed Thursday cracking down on cryptocurrencies, a move which if adopted could disrupt the burgeoning virtual money sector as Russia is one of the largest crypto-mining nations in the world.
Russian authorities have for years criticised cryptocurrencies over fears they can be used for illegal activities and have called for regulation.
Authorities granted cryptocurrencies legal status in 2020, but their use in payments was never authorised.
The Bank of Russia called Thursday for reinforcing the ban on cryptocurrency payments, banning crypto-mining, and tightening laws on trading virtual money.
"The use of cryptocurrencies creates significant threats to the well-being of Russian citizens and the stability of the financial system," a report published by the central bank said.
It added that the swift growth of cryptocurrencies is driven by "speculative demand" that leads to the forming of a "bubble".
The report added that cryptos resemble financial "pyramid schemes" because their value increases with the emergence of new players on the market.
It estimated the annual transaction volume of Russian citizens at $5 billion.
Bloomberg earlier cited sources as saying that Russia's domestic security agency, the FSB, had lobbied central bank head Elvira Nabiulina for a ban.
The FSB cited concerns over Russians frequently using the hard-to-trace transactions to support "undesirable organisations", such as opposition groups.
M.Fischer--AMWN