Moscow Exchange will ban short sales using Qiwi receipts from February 22 – Kommersant
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Moscow Exchange (MOEX: MOEX) from February 22 enters ban on short selling of Qiwi stock receipts (MOEX: QIWI) and bonds of the Qiwi Finance company. Today, February 21, Bank of Russia recalled license from Qiwi Bank due to the participation of a financial organization in settlements between individuals and crypto exchangers, bookmakers, as well as online casinos.
The Bank of Russia announced the revocation of a banking license from a financial organization for the first time since August 2022. The regulator explained that over the past 12 months, Qiwi Bank has “repeatedly applied supervisory measures to the credit institution,” and twice introduced “restrictions on certain transactions.”
The news about the revocation of the license led to a collapse in the quotes of Qiwi depositary receipts on the Moscow Exchange; they fell by almost 50%. This happened with increased investor activity. By 17:20 the volume of transactions amounted to more than 3 billion rubles.
After the license was revoked, the Qiwi mobile application and the Contact payment system, through which money was transferred abroad, stopped working. Revocation of the license from Qiwi Bank also affected the work of Raiffeisenbank, Tochka Bank and Metallinvestbank.
Read more about the situation in the Kommersant article. “Qiwi Bank has lost its license”.
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