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Friday, September 30, 2022

Central Bank of the Russian Federation: Financial pyramids began to use digital currencies more often

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According to the Bank of Russia, financial pyramids carry out about 60% of their operations in cryptocurrencies. Such shadow structures began to use digital assets more often, Valery Lyakh, head of the Central Bank’s Department for Combating Unfair Practices, told reporters.

He stressed that cryptocurrencies are especially popular with scammers. The state does not have the tools to track funds in bitcoin and other virtual currencies. Therefore, the volume of investment in cryptocurrencies and their criminal use continues to grow.

Valery Lyakh urged Russian citizens not to use digital currencies. According to him, on the website of the Bank of Russia, one can at any time obtain comprehensive information about such assets and familiarize themselves with the risks associated with investing in them. In addition, the official noted that cryptocurrencies cannot be considered as an investment tool.

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