Russia's central bank calls for crypto crackdown
-
Serena set for remarkable Wimbledon return
-
Stocks climb, yen stays near 40-year low against dollar
-
Outgoing UK PM Starmer announces 'record' defence spending
-
Swim star Marchand limps out of French nationals as Europeans loom
-
Paralluelo joins Barca women's departures
-
UN says transport infrastructure must adapt to climate
-
Police hunt for Monaco bomb suspect after Ukrainian-born businessman wounded
-
Sommer, Acerbi, Darmian, De Vrij leave Inter Milan
-
Sommer, Acerbi, Darmian leave Inter Milan
-
Germany's labour market dilemma: rising unemployment despite vacancies
-
'Waiting like torture': Turks despair as Schengen visa delays mount
-
Skating allows Russian, Belarussians to return as neutrals
-
Venezuela rescuers in final push to find survivors as families mourn
-
Russian double Olympic figure skating champion Dmitriev dies aged 58
-
Over 1 million migrants apply for Spain's mass regularisation: PM
-
S. Africa deploys police as anti-migrant protests loom
-
Thousands from Philippine sect protest pro-Duterte senator's graft case
-
Monaco parcel bomb blast wounds Ukrainian oligarch
-
South Africa repatriations top 25,000 ahead of anti-immigrant ultimatum
-
Sweden face France's attacking firepower at the World Cup
-
Taiwan raids tech firms in China AI chip smuggling probe
-
Online same-sex romance series embrace AI 'freedom'
-
Morocco 'unstoppable' says coach after Netherlands thriller
-
New Oxford academic centre symbolises UK's big-donor era
-
Russia's small businesses pay the price of spiralling Ukraine war
-
Trump says Iran meeting set in Qatar, despite uncertainty
-
Paraguay shock Germany as Brazil, Morocco advance at World Cup
-
Morocco down Netherlands to reach World Cup last 16
-
NASA robot mission aiming to rescue space telescope
-
Asian stocks unable to track Wall St higher, yen holds at 40-year low
-
Mouse-that-roared Paraguay savors World Cup win over Germany
-
'We came from nothing': DR Congo dreams of England World Cup upset
-
Taiwan's ageing seaweed harvesters hope younger women wade in
-
Peruvian political heir Fujimori wins presidency
-
Key Venezuela port opens with US aid, as burials begin
-
What to expect as EU small parcel levy kicks in
-
Ambitious Japan search for answers after World Cup exit
-
Nagelsmann says won't 'run away' after Germany World Cup exit
-
How NATO will try to keep Trump happy at Ankara summit
-
Paraguay coach salutes 'extraordinary' World Cup win over Germany
-
Ultra-wealthy Chinese exile in New York sentenced to 30 years for fraud
-
Japan fans stunned as Brazil end their World Cup dream
-
Years on, families bury 68 Indigenous victims of Guatemala civil war
-
'Powerhouse' Haaland leads by example at World Cup: Norway coach Solbakken
-
'Deliberate' Monaco explosion wounds Ukrainian oligarch
-
Sadness and joy as breakaway Catholic group nears schism
-
Paraguay shock Germany, Brazil advance at World Cup
-
Multi-Billion-Dollar Global Sports Brand U.S. Polo Assn. Earns Global Awards and Recognitions Across Business, Sport, and Content Categories
-
HUNTING/HER Headhunter Talk with EnBW Board Member & CHRO Colette Rückert-Hennen
-
Germany dumped out by Paraguay in seismic World Cup shock
NYSE - LSE
Russia's central bank calls for crypto crackdown
The Russian central bank proposed Thursday cracking down on cryptocurrencies, a move which if adopted could disrupt the burgeoning virtual money sector as Russia is one of the largest crypto-mining nations in the world.
Russian authorities have for years criticised cryptocurrencies over fears they can be used for illegal activities and have called for regulation.
Authorities granted cryptocurrencies legal status in 2020, but their use in payments was never authorised.
The Bank of Russia called Thursday for reinforcing the ban on cryptocurrency payments, banning crypto-mining, and tightening laws on trading virtual money.
"The use of cryptocurrencies creates significant threats to the well-being of Russian citizens and the stability of the financial system," a report published by the central bank said.
It added that the swift growth of cryptocurrencies is driven by "speculative demand" that leads to the forming of a "bubble".
The report added that cryptos resemble financial "pyramid schemes" because their value increases with the emergence of new players on the market.
It estimated the annual transaction volume of Russian citizens at $5 billion.
Bloomberg earlier cited sources as saying that Russia's domestic security agency, the FSB, had lobbied central bank head Elvira Nabiulina for a ban.
The FSB cited concerns over Russians frequently using the hard-to-trace transactions to support "undesirable organisations", such as opposition groups.
D.Khalil--SF-PST
