Bank of Russia asks stock exchanges to not list crypto-related firms
July 22, 2021. Summarized by summa-bot.
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The Bank of Russia also recommended that asset managers exclude cryptocurrency-related financial instruments in mutual funds.
As global cryptocurrency companies increasingly consider going public, the Russian central bank has officially recommended local exchanges to avoid crypto-related listings.
The Bank of Russia issued an information letter on July 19, asking Russian stock exchanges to stay away from listings of foreign and local companies involved in a broad range of crypto services.
The central bank elaborated that local exchanges should not list stocks issued by companies whose business relies on crypto market prices, including digital financial assets issued outside Russia, crypto-tracking indexes, as well as crypto derivatives and crypto funds.
The recommendations do not apply to central bank digital currencies and authorized digital assets issued in Russia, the statement reads.