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Central bank acknowledges Russia’s leading role in crypto industry, outlines major risks
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The cryptocurrency market is growing at an exceptional rate. In fact, many countries are vying for the top spot in terms adoption. As it turns out, a top contender in the $2.8 trillion market, is Russia. The country conducted trades of over $5 billion over the past year, according to the country’s central bank.
The Bank of Russia recently published its latest review on financial stability in the Russian market, with a section highlighting the country’s growing role in the crypto industry. The central bank’s estimates were based on transaction reports by major banks in July 2021.
This suggested that the total annual volumes of crypto transactions of the Russian population amount to 350 billion rubles, or $5 billion. The report, however, did
Read more on ambcrypto.comAbout this in other media
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Russian Senate, Gov’t Ministries & Central Bank to Create Crypto ‘Working Group’ cryptonews.com /3 years ago
Russia’s largest bank struggles to register its digital asset platform cointelegraph.com /3 years ago
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