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Russia's Central Bank plans to ban cryptocurrency use in the country

Russia's central bank deputy governor, Vladimir Chistyukhin, has expressed concern about the possibility of privately held cryptocurrencies being phased out of the country's financial system in the near future. According to Reuters, sources told the news agency that the central bank is concerned about the increasing volume of cryptocurrency transactions, which is threatening financial stability. After the People's Republic of China announced an absolute prohibition on all cryptocurrency transactions and "mining" in September, the value of bitcoin and other major digital coins plummeted.
 

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