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Russia to ban crypto | Binance, the world's largest crypto exchange by volume, said it's looking to improve communications with the regulator. Silver Still, if it is enacted, the ban would mark the end for big crypto businesses, especially mining farms, according to Sergey Mendeleev, executive director of a crypto investment platform InDeFi. For now, Russian authorities prioritise the launching of a CBDC ruble and have enacted tough crackdowns on the private crypto sector, including banning mutual funds from investing in Bitcoin BTC. The bank, therefore, said Russia needs new laws and regulations to effectively ban crypto-related activities. That's 56 percent off the regular price. The central bank, which is planning to issue its own digital rouble, said crypto assets becoming widespread would limit the sovereignty of monetary policy, with higher interest rates needed to contain inflation. |
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