Russia's central bank calls for crypto crackdown / Photo: ©
-
Ukraine allies to hold last defence meet before Trump takes office
-
NBA-best Cavs win 11th in a row to end 15-game Thunder streak
-
What you need to know about HMPV
-
Venezuela braces for crunch anti-Maduro protests
-
Bangladesh garment industry rebounds, but workers say little change
-
Asian markets drop as trades fret over US inflation, rates outlook
-
Mozambique opposition leader due home amid tension over disputed vote
-
Doping and a match made in heaven: Australian Open storylines
-
Australia recall McSweeney for Sri Lanka Tests, Connolly set for debut
-
Myanmar military adopts anti-junta fighters' drone tactics
-
Lebanon set to finally elect president after two-year vacancy
-
New twist in US-Cuba trademark fight over Havana Club rum
-
CES tech looks to help world's aging population
-
Venezuela repression increases ahead of crunch anti-Maduro protests
-
Rubber tappers forge sustainable future in Amazon
-
'No more fires,' demand fed-up Amazon residents
-
Assault on Chad presidential complex leaves 19 dead
-
Crowds throng as Jesus statue parades through Philippine capital
-
Slot fumes after Spurs teenager Bergvall avoids red card to sink Liverpool
-
Fighting at Chad presidency leaves 19 dead, several injured
-
US astronauts upbeat seven months into eight-day mission
-
Bergvall strikes as Spurs snatch League Cup semi-final lead over Liverpool
-
Extreme weather, suburban sprawl fuel LA's wildfires
-
Campaigners fear spike in hate speech as Meta lifts restrictions
-
Yakuza leader pleads guilty in US court to conspiring to sell nuclear material
-
Barcelona defeat Bilbao without Olmo to reach Spanish Super Cup final
-
Displaced LA residents in shock at scale of fire destruction
-
Gunfire erupts inside presidency in Chad capital
-
Miami and Tampa to host outdoor NHL contests in 2026
-
Popov claims first World Cup win in Madonna di Campiglio slalom
-
Tottenham star Bentancur 'conscious' after head injury in Liverpool clash
-
NHL Kings postpone game while NFL monitors LA area wildfires
-
Barcelona defeat Athletic without Olmo to reach Spanish Super Cup final
-
Bulgaria's Popov claims first World Cup win in Madonna di Campiglio slalom
-
Niemann and Nicolai Hojgaard accept special Masters invitations
-
Political chess or true beliefs? Zuckerberg's surprise Trump pivot
-
Hosszu, swimming's 'Iron Lady', retires at 35
-
US withholds $3.6 mln payment to WADA after no audit
-
Venezuela opposition decry crackdown before Maduro swearing-in
-
US Fed officials concerned over 'stalled' disinflation, tariffs: minutes
-
Whole streets burn as fires rage around Los Angeles
-
Celebrities flee Los Angeles fires as Hollywood events scrapped
-
Several US Fed officials concerned over 'stalled' disinflation: minutes
-
Kiwi blaster Guptill retires from international cricket
-
Celebrities flee Los Angeles blazes as Hollywood premieres scrapped
-
Meta's 'Musk playbook' fans misinformation concerns
-
Dani Olmo cleared to play for Barcelona by Spanish sports council
-
Man Utd's Maguire given driving ban for speeding
-
Neymar says 2026 World Cup will be his last
-
Arsenal's Man Utd clash headlines intriguing FA Cup third round
NYSE - LSE
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.
B.Shevchenko--BTB