Meanwhile, Elizaveta Danilova, Director of the Bank of Russia's Financial Stability Department, said in a recent web press conference that Russia should ban all crypto-related activities. But she also stressed that the Bank of Russia is not asking for a ban on private holding of cryptocurrencies by citizens, but wanted a new law banning crypto-related activities like mining, trading, etc. She was quoted in a report by Coindesk as saying, “Russia needs new laws and regulations to effectively ban crypto-related activities. The bank is not suggesting banning ownership of crypto by private citizens. The optimal solution would be to ban crypto mining in Russia.”