The Bank of Russia’s latest stock exchange recommendations are not applicable to digital currencies issued by the central bank and digital assets authorized in Russia.

The Russian central bank officially recommends local exchanges to stay clear of crypto-related listings, as global cryptocurrency companies are increasingly considering going public.

The Bank of Russia issued an information letter on July 19, asking Russian stock exchanges to stay away from listings of foreign and local companies involved in a broad range of crypto services.

According to the central bank, local exchanges shouldn’t list stocks issued by companies whose businesses depend on crypto market prices. This includes digital financial assets that are not issued in Russia, crypto-tracking indicators, and crypto derivatives. These instruments should be excluded from mutual funds, according to the Bank of Russia.

The bank stressed that stock exchanges should not provide exposure to such investment services to non-accredited investor.

“The Bank of Russia’s recommendations aim at a preventive measure — they are designed to prevent a mass investor adoption of such instruments,” the bank stated in an official notice on Thursday. According to the statement, the recommendations don’t apply to Russian central bank digital currencies or authorized digital assets.

According to the central bank, cryptocurrencies and digital assets can be associated with high volatility and opaque price discovery, low liquidity as well as technology-related risks. The bank stated that the purchase of financial instruments tied to these assets can increase losses for those who don’t have enough experience or knowledge.

The Bank of Russia’s latest move further showcases the institution’s reluctance to embrace the cryptocurrency industry, echoing similar restrictions in countries like China. As previously reported, the Russian central bank has been withholding major local banks like Tinkoff from offering cryptocurrency trading.

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