Bank of Russia will NOT Permit Digital Currencies

Bank of Russia Press Release:

"Operations with cryptocurrencies carry high risks both during exchange operations, including due to sharp exchange rate fluctuations, and in the case of raising funds through the ICO (Initial Coin Offering – a form of attracting citizens’ investments in the form of issuing and selling new cryptocurrency to investors / tokens)."

“The Bank of Russia considers it premature to admit cryptocurrencies, as well as any financial instruments nominated or associated with cryptocurrencies, to be circulated and used in organized trades and in clearing and settlement infrastructure on the territory of the Russian Federation for servicing transactions with cryptocurrencies and derivative financial instruments on them.”