Bank of Russia Wants to Ban Miners from Selling Crypto to Russians

The Russian central bank continues to maintain an extremely negative stance against cryptocurrencies. Thus proposing to prohibit local miners from selling coins to the local population.

The Bank of Russia has supported the idea of ​​legalizing cryptocurrency mining in Russia as part of a bill introduced in mid-November 2022.

However, the Russian central bank wants to allow miners to sell their cryptocurrencies only on foreign, non-Russian exchanges. This was reported on December 7 by the local news agency Interfax.

“In general, we adhere to the position on the inadmissibility of the circulation of digital currency on the territory of the Russian Federation.”

Apparently, the new proposal would provoke many questions from miners in Russia. As many foreign cryptocurrency exchanges have banned Russians from using their platforms in compliance with sanctions over Russia’s war in Ukraine. The Bank of Russia has also long been a supporter of allowing residents to trade only through foreign exchange platforms. 

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