Crypto News

Russian Central Bank Head Says Russia Is Not Ready To Launch Crypto ETFs

The head of the Bank of Russia, Elvira Nabiullina gave a negative answer to the question about the possibility of trading cryptocurrency ETFs in Russia.

On October 22, 2021, during a press conference following the meeting of the Board of Directors, the Chairman of the Bank of Russia Elvira Nabiullina said that the regulator was not ready to follow the example of the US Securities and Exchange Commission (SEC) and allow Bitcoin ETFs trading.

A similar response was expected since the head of the financial regulator has repeatedly and sharply criticized cryptocurrency projects.

On the other hand head of SEC USA, Gary Gensler said that they approved the launch of BTC futures ETFs since they can be attributed to financial instruments of the commodity market.

Gensler says that the BTC ETFs are controlled by the CFTC and are subject to the Investment Companies Act 1940.



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