The State Duma estimated the crypto investments of Russians at 5 trillion rubles

Residents of Russia have invested 5 trillion rubles in bitcoin and other cryptocurrencies. This was announced at parliamentary hearings on Monday by the head of the State Duma Committee on the Financial Market Anatoly Aksakov.

"According to some sources, 5 trillion rubles have already been invested by Russians in cryptocurrency," the deputy said.

This amount is equivalent to $67.5 billion or 1,469,430 bitcoins.

Aksakov stressed that the participants of the cryptocurrency market are, among other things, unqualified investors.

"It is necessary to put an end to cryptocurrencies. It is necessary to determine how we treat this phenomenon and, accordingly, the legislation is quite strict to prescribe responsibility if we prohibit or restrict something," he added.

Earlier, the media reported that the Central Bank is seeking a complete ban on investments in cryptocurrencies for Russians.