The Central Bank of Russia made evaluations on cryptocurrencies and mining activities in the country.
Explaining that the annual transaction volume of Russians with cryptocurrencies is about 5 billion dollars, the Central Bank of Russia stated in its statement that Russian investments in foreign securities were at the level of 6.3 billion dollars last year;
In the statement made, it was stated that the volume in question should not be considered as a flow to digital currencies entirely, that the data on trade turnover may reflect on alternative purchases and sales, and some of this volume consists of the sale of the digital currency obtained as a result of mining.
According to Russian law, the use of cryptocurrencies for payments for goods and services is prohibited in the country, while companies and individuals are free to invest in cryptocurrencies as digital financial assets.