The Central Bank will consider the possibility of allowing unqualified investors to enter the cryptocurrency market

Vladimir Chistyukhin, First Deputy Chairman of the Central Bank of Russia, said on December 11 that consideration of the possibility of allowing unqualified investors to enter the cryptocurrency market requires maximum caution.

"If a decision is made to allow non-bankers to do this under certain conditions, it means that the circle of those who will be able to conduct operations with the crypt will expand. And here we need to be as careful as possible," Chistyukhin said in an interview with RIA Novosti.

He stressed that cryptocurrencies are used not only as an investment asset, but also as a means of cross-border payments, which is an important factor in the current environment. The Central Bank seeks to protect retail investors from the risks associated with cryptocurrency, but recognizes the need for its use for international settlements.

Chistyukhin noted that for unqualified investors, in case of their admission to the market, access can be established only to the most liquid instruments.

Paperball: The growth of cash in circulation has jumped fivefold in recent months

What does this mean for the economy and will this money be returned to the banks?

On the same day, it was reported that the Central Bank of Russia, together with the Ministry of Internal Affairs of the Russian Federation, launched a mechanism for the rehabilitation of clients whose accounts were blocked due to suspicions of fraudulent transactions with cryptocurrency. The mechanism allows citizens who consider themselves not involved in fraudulent transactions to contact the Ministry of Internal Affairs and resolve the issue in a pre-trial manner.

All important news is on the Izvestia channel in the MAX messenger.