Central Bank of Russia: Crypto Assets Not a Threat to Global Financial Stability

In a report released last May 30, the Central Bank of Russia said that the global volume of crypto assets is still too low to disrupt global financial stability.

The paper defined crypto assets as a financial asset based on the application of cryptography and distributed ledger technology. Such assets can only be a risk if if the market grows further, or if retail and institutional investors, banks, and other market players get involved in a larger scale. The CBR further said that the high volatility of crypto assets prevent them from being a reliable standard of value, means of exchange, and store of value.

Source: Coin Telegraph

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