Bank of Russia rejects mutual funds from investing in crypto assets

The Bank of Russia prohibits mutual funds in the country to invest directly or indirectly in digital assets, according to the central bank's directive. Additionally, these funds cannot invest in "financial instruments, the value of which depends on the prices of digital currencies," according to the directive. Recall in July, the country's financial regulator banned Russia's equity exchanges from listing financial instruments that are dependent on the price of cryptocurrencies, CoinDesk notes. Still, Russia's central bank is now working on a Russian ruble-backed central bank digital currency. Meanwhile, Bitcoin (BTC-USD -7.4%) fades to $46.5K per token, and struggles to hold its 200-day simple moving average at $46.8K. In mid-October, Vladimir Putin signaled acceptance of crypto as a means of payment.