The Central Bank opposed the exchange of cryptocurrency for rubles

© RIA Novosti / Evgeny to Betemporary in fotoracconti with the logo of bitcoinThe Central Bank opposed the exchange of cryptocurrency for rubles© RIA Novosti / Evgeny to Betemporary the image Bank

The Bank of Russia considers acceptable exchange for rubles, foreign currency or other property only tokens in the framework of the Russian ICO (procedure for the initial placement of tokens), and against allowing such an exchange for cryptocurrencies, because even when you identify the ultimate owner will open the possibility of legalizing in-doubt transactions, reported RIA Novosti in the press service of the Central Bank.

The Finance Ministry on Thursday published draft law «On digital of financial assets», which, in particular, defines cryptocurrency as property in the electronic form, and sets up a special procedure carried out on the territory of the Russian Federation of transactions with cryptocurrencies. The use of cryptocurrency in Russia, according to the document, as payment is not expected.

«The Bank of Russia supports the ability to exchange tokens for rubles, foreign currency and/or other property on the exchange site of an authorized operator only with respect to tokens under the ICO to raise funds on the territory of Russia», — reported in the Central Bank.

The issue and circulation of cryptocurrency, the regulator still considers vysokoriskovannymi for consumers and investors, noting that they are unsecured and not guaranteed by any government. «Cryptocurrency transactions carry the risks of laundering, as even in the identification of the ultimate party it is impossible to trace and identify the entire chain of creation and circulation of cryptocurrency before its release to the site of the exchange», — indicate in the CB.

«According to Bank of Russia, the permission of exchange operations to the final beneficiary of cryptocurrencies will provide an opportunity to legalize including in-doubt transactions that took place earlier. This opens up new opportunities for unscrupulous participants and poses significant risks to the stability of the financial system,» said the regulator.

Thus in General agreement on all the provisions of law on digital of financial assets that were developed by representatives of the Central Bank and Ministry of Finance, except for the possibility of exchange of cryptocurrency for roubles or currency, said the Bank of Russia.