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Central Bank Of Russia: Crypto Assets Do Not Pose Risk to Global Financial Stability

The Central Bank of Russia released a report May 30, stating that crypto assets do not currently threaten global financial stability as the global volume of crypto transactions is very low.

According to the report, crypto assets do not pose a risk to global financial stability, because at present the volume of crypto asset transactions is very low compared to the scale of the global financial system. The relation of this segment to the financial system is insignificant, according to the report.

Earlier this month, the Russian State Duma approved the first reading of new legislation to regulate the crypto industry. The laws define cryptocurrencies and tokens as property, and lay out specifications for interacting with crypto and blockchain-related technologies.

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