Russia may block access to websites of cryptocurrency exchanges and other platforms that allow exchanging fiat to cryptocurrencies.

This statement was made by Sergey Shvetsov, Russian Central Bank first deputy governor.

"We are working with the Prosecutor General's Office to shut down external websites that allow our citizens to acquire such assets," he said at the conference of the PFA on Tuesday.

"We have a procedure for disabling websites in Russia, so we are acting on this procedure ... There are many such sites ... The decision on blocking each website is made as a separate solution."

It does not matter which jurisdiction the website is registered in, as Russian authorities are able to block access for Russian IPs to any sites.

"We can limit access, not to close exchanges, but block access to their sites. If an exchange has a website and sells such tools [cryptocurrency], then yes, we will limit access," he later explained in a conversation with reporters.

"Unqualified investors should not be served by our professional foreign providers in this segment."

"We are talking now about cases when one acquires [cryptocurrencies] for investment purposes."

Shvetsov called cryptocurrencies "dubious" financial instruments.

“We cannot stand apart. We cannot give direct and easy access to such dubious instruments for retail (investors),” Shvetsov said.

He noted that the Russian Central Bank sees growing interest of individuals and companies in cryptocurrencies due to high returns of such investments.

“We think that for our citizens, for businesses the usage of such crypto-currencies as an investment object carries unreasonably high risks,” he said.