Every bit global cryptocurrency companies increasingly consider going public, the Russian central banking company has officially recommended local exchanges to avert crypto-related listings.

The Banking company of Russia issued an information letter on Monday, asking Russian stock exchanges to stay abroad from listings of foreign and local companies involved in a broad range of crypto services.

The central bank elaborated that local exchanges should not listing stocks issued by companies whose business relies on crypto marketplace prices, including digital financial assets issued outside Russian federation, crypto-tracking indexes, equally well as crypto derivatives and crypto funds. The Bank of Russia likewise recommended nugget managers to exclude these instruments in mutual funds.

The bank emphasized that stock exchanges should especially avoid providing exposure to these investment services to non-accredited investors.

"The Bank of Russian federation'due south recommendations aim at a preventive measure — they are designed to prevent a mass investor adoption of such instruments," the bank stated in an official notice on Thursday. The recommendations do not apply to central bank digital currencies and authorized digital avails issued in Russia, the statement reads.

Related: Russia's central bank to report crypto investment risks

The cardinal bank went on to say that cryptocurrencies and digital assets are associated with high volatility, opaque cost discovery, low liquidity, as well as applied science and regulation-related risks. "Purchases of fiscal instruments linked to such assets entail increased risks of losses for people who practice not have sufficient experience and knowledge," the banking company added.

The Bank of Russian federation'southward latest move further showcases the institution's reluctance to cover the cryptocurrency industry, echoing like restrictions in countries such as Mainland china. Every bit previously reported, the Russian central bank has been withholding major local banks such as Tinkoff from offering cryptocurrency trading.