September 26 2022 9:36 PM E-paper Subscribe Sign in My Account Sign out

Russia proposes ban on use and mining of cryptocurrencies

Computers mining cryptocurrency at the Coinmint facility in Massena, New York, August 27, 2018. (Photo: NYTimes)
AMMAN - Russia’s central bank on Thursday proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens’ wellbeing and its monetary policy sovereignty.اضافة اعلان

The move is the latest in a global cryptocurrency crackdown as governments from Asia to the United States worry that privately operated and highly volatile digital currencies could undermine their control of financial and monetary systems.

Russia has argued for years against cryptocurrencies, saying they could be used in money laundering or to finance terrorism. It eventually gave them legal status in 2020 but banned their use as a means of payment.

Read Region & World