Share this article
Bank of Russia Bars Mutual Funds From Investing in Crypto
In a new directive, the regulator prohibited Russian mutual funds from directly or indirectly investing in crypto assets.
Updated May 11, 2023, 6:15 p.m. Published Dec 13, 2021, 6:18 p.m.
The Bank of Russia, the country’s chief financial regulator, issued new rules for the country’s mutual funds in a directive published Monday.
- Such funds cannot invest in digital currencies or in “financial instruments, the value of which depends on the prices of digital currencies.”
- In July, the regulator banned Russia’s stock exchanges from listing financial instruments that are dependent on the prices of digital assets. That letter, dated July 19, said mutual funds should not touch such products, either.
- The Bank of Russia is currently working on a Russian ruble-backed central bank digital currency (CBDC). The regulator earlier planned to launch a CBDC pilot program in December, but the deadline has recently been moved. In November, the central bank’s governor, Elvira Nabiullina, told Reuters the prototype will be created in “early 2022″ and then the digital ruble will be in a pilot program before making a decision if it should be launched in production.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Iran accepts cryptocurrency as payment for advanced weapons
Prospective customers could purchase weapons such as missiles, tanks and drones using crypto, according to a government website.
What to know:
- Iran's Ministry of Defence Export Center is accepting cryptocurrency payments for advanced weapons systems as a means of bypassing international sanctions that the country faces.
- The offer is among the first known instances of a country accepting cryptocurrency as a means of payment for military equipment, according to the Financial Times.
- The facility for using cryptocurrency to pay for transactions involving sanctioned countries is already well established.
Top Stories
