Number of Russians Trading Crypto Is Falling, Says Central Bank

The number of Russians trading cryptocurrencies is falling, according to the country’s central bank. In the third quarter of 2019, only 0.1% of total trading volume was transacted using digital currencies, the Bank of Russia said. The figure is significantly lower than the 0.4% recorded during the second quarter of the year. This decrease has been attributed to a decrease in trading volumes, as well as market volatility. The Bank of Russia has also noted that Russians are increasingly turning to less volatile instruments such as shares and bonds when considering investment options. The financial regulator has also cautioned that digital currencies are high-risk investments and that investors should be aware of the potential losses associated with them. The central bank has previously warned that accelerated adoption of cryptocurrencies could lead to financial instability.


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