Russia to allow banks to conduct cryptocurrency business, but with strict restrictions

Vladimir Chistyukhin, First Deputy Governor of the Central Bank of Russia, said that the Central Bank of Russia will allow banks to conduct cryptocurrency business, but will impose strict capital restrictions and reserve requirements. At the same time, it plans to implement "quite strict requirements" to prevent cryptocurrency business from becoming the dominant activity of banking institutions, including limiting banks' cryptocurrency exposure to 1% of their capital. (Cryptopolitan)