Cryptocurrency can be used in the same way as gold, according to Russian pawnshops. And access to work with digital assets will ensure an influx of customers from the cryptocurrency industry, Kommersant writes.

The journalists got acquainted with the documents submitted to the Bank of Russia by the Neolombard network (Lombard CityCredit company). The company’s specialists are asking for an explanation of the possibility of accepting cryptocurrency as collateral for loans.

“Digital currencies are gaining more and more popularity among Russians and, while not yet legally able to be a means of payment, they act as an investment tool or a means of savings for both investors and miners. Being, in fact, digital gold (you can own it, but you can’t pay in the store), ”explained Marina Brazhnikova, CEO of Neolombard.

According to Brazhnikova, pawnshops, “having gained a foothold in the segment of lending secured by gold, are striving to enter the promising niche of the CFA.”

Neolombard has already received an answer. The Central Bank explained that digital currencies are recognized as property only for the purposes of the laws “On Combating Money Laundering”, “On Insolvency” and “On Combating Corruption”.

In other cases, “legislation does not establish the legal basis for the circulation of digital currency.” However, as journalists write, the Central Bank did not find any grounds for banning such activities.

In Russia, there is a decrease in interest in services that provide access to digital assets. According to a study conducted by the cellular operator Yota, demand fell by 35% over the year.

Meanwhile, the Ministry of Finance of the Russian Federation advises Russians to stop saving in cryptocurrencies. The head of the financial policy department of the ministry, Ivan Chebeskov, said that people with an average income should not buy crypto assets.