The Deputy Governor of the Bank of Russia, Vladimir Chistyukhin, said that Russians will be allowed to invest in cryptocurrencies such as Bitcoin (BTC), with one important condition that it be done by Through foreign companies.

As reported by Coin Telegraph, Russian citizens and businesses have the right to acquire and hold cryptocurrencies, but not through local infrastructure or intermediaries.

Chestyukhin claimed that the Russian government is working to provide more regulatory clarity around the crypto industry, promising that local authorities will study legal initiatives on the issue.

He said the Russian Central Bank is now preparing an advisory report detailing his vision regarding the role of cryptocurrencies in the Russian financial system, saying: I'll give you a hint. We do not see a place for cryptocurrencies in the Russian financial market.

The latest comments come shortly after Anatoly Aksakov, Chairman of the Russian State Duma Financial Markets Committee, announced on December 16 that his country would choose between a comprehensive ban on cryptocurrencies. and legalization of stock exchanges in 2022.

On December 20, Aksakov alleged that Russians have invested more than $67 billion in cryptocurrencies such as Bitcoin, which called for urgent regulations.

Russia continues to send mixed signals to the cryptocurrency markets as more reports provide details about the country's upcoming crypto regulations.