The Central Bank of the Russian Federation recommends not to admit shares of companies related to cryptocurrencies to trading – Bits Media

The regulator considers cryptoassets to be risky for unqualified investors and recommended that Russian exchanges not allow securities to be traded., payments for which depend on the prices of cryptocurrencies.

The Central Bank of Russia issued a statement citing Information letter, which explains the position of the regulator regarding the admission to bidding and the sale of "tools with reference to cryptocurrencies and crypto actures".

In accordance with the new recommendations of the Central Bank of the Russian Federation, Russian exchanges should not not allow trading securities, which depend on cryptocurrency courses, prices of foreign digital financial assets, cryptocurrency indices, as well as the cost of cryptocurrency derivatives and securities of funds for cryptocurrencies. This applies to securities as Russian, and foreign issuers.

The regulator also does not recommend the inclusion of such securities in the PIF. Blacks and trusting managers should not offer unqualified investors pseudo -production financial instruments with similar basic assets. According to the statement of the Bank of Russia:

“Cryptocurrencies and digital assets are characterized by high volatility, impenetration of pricing, low liquidity, technological, regulatory and other specific risks ".

As the Central Bank notes, Buying such products has high risks of losses for consumers, which do not have sufficient experience and relevant knowledge. The purpose of the recommendations is indicated by consumers by restricting the proposal of such tools to unqualified investors. At the same time, state cryptocurrencies do not fall under the restriction in case of release, as well as issued in information systems in accordance with Russian legislation of the Tsf, operators of which are included in the register of the Central Bank.

Recall, that in April the Canadian division of the HSBC bank prohibited
Clients buy shares of public companies to HSBC Invest Direct accounts, owning bitcoin.