Russia has recently re-emphasized its stance in regards to cryptocurrencies, and other, related digital assets. In a statement put out on Monday, the Central Bank of Russia has proclaimed that it would ban mutual fund managers from purchasing cryptocurrencies, or any extensions of cryptos - namely, any financial instruments whose price would depend on digital assets.
In the same statement, the Bank of Russia did expand a list of alternative assets that mutual funds will be capable of investing in. This only further-extends the point that Russia tries to make, crypto-wise.
Up until this point in time, there has been no official ban on mutual funds exposing their clients to cryptocurrencies - only recommendations made from the Bank of Russia to avoid doing so. That being said, there have been no mutual funds within the country that would offer cryptocurrencies as a potential investment tool.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is Odysee & LBRY? Is Decentralized YouTube Possible? (ANIMATED)
Currently, the only exchange-traded funds (better known as ETFs) that can be traded in Russia, and that would be related to blockchain technology, are those offered by BrokerCreditService (BCS), and relate to blockchain-based data storage. Reportedly, there is currently another blockchain-related ETF in the works, too - it will be offered by Sber, Russia’s largest bank.
