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Russia to Ban Funds from Crypto Investment, Experts Warn of ‘Blurry’ Legal Status
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The Russian Central Bank has moved to bar financial firms in the country from engaging with crypto-related mutual funds.
In a press release, the resolutely anti-crypto body, which also polices the domestic financial sector, announced it had created a draft directive, which it will listen to feedback on until December 27, 2021.
The directive deals with other mutual fund-related restrictions, too, but crypto-keen banks will be stunned to hear that the Central Bank wrote of establishing a “ban” on “the investment of funds in mutual funds, including those intended exclusively for [industrial] investors, in digital currencies and financial instruments, the price of which depends on the rates of digital currencies” – essentially all tokens and
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