Bank of Russia Rules Out Cryptocurrency Investments, Cites Risks

Bank of Russia Rules Out Cryptocurrency Investments

  • The Bank of Russia will not invest in cryptocurrencies.
  • The central bank sees cryptocurrencies as risky and unstable.
  • Governor Elvira Nabiullina confirmed the stance at a recent briefing.
  • The bank allows limited cryptocurrency use in foreign economic activities and for qualified investors.
  • The central bank is against the use of cryptocurrencies for domestic payments.

The Bank of Russia announced on July 3 in St. Petersburg that it does not plan to invest in cryptocurrencies. The central bank made this statement during a briefing at its Financial Congress, emphasizing its cautious approach due to the volatility of digital assets.

- Advertisement -

Elvira Nabiullina, Governor of the Bank of Russia, addressed reporters on the issue. She made it clear that cryptocurrencies remain off-limits as investment assets for the central bank. The regulator described digital currencies like Bitcoin as highly risky and unpredictable in value.

In her statement, Nabiullina said, “We continue to be against using cryptocurrencies in payments inside the country. That is, ‘yes’ for the foreign economic activity, ‘yes\ for particularly qualified [investors] as a target for investments. Nevertheless, we are against its use as the means of payment.” She also added, “Considering our attitude towards them as risky and volatile assets, we certainly do not consider that we as the Central Bank may invest in that.”

Cryptocurrencies are digital assets that use cryptography for security and are often favored for speculative investment. However, their values can change rapidly, leading some institutions to view them as unstable. The central bank’s policy allows certain qualified investors and businesses using cryptocurrencies in foreign trade, while still restricting their use for domestic purchases and payments.

No additional figures or wider regulatory changes were reported at the event. The central bank continues to monitor the sector but maintains its strict position on limiting cryptocurrencies in Russia’s financial system.

- Advertisement -

✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest News

Hut 8 expands Coinbase credit to $200M, AI deal lifts rally!

Hut 8 expanded a credit facility with Coinbase to $200 million.The company said it...

Warren Buffett Steps Down as CEO; Greg Abel Takes Helm Ahead

Warren Buffett has stepped down as CEO of Berkshire Hathaway, with his final working...

Quantum Solutions posts $4.71M unrealized ETH holdings loss.

Quantum Solutions bought about $20.6 million of Ethereum, holding roughly 5,030 ETH on its...

Phishing losses fall 83% to $83.85M as attacks shift in 2025

Annual phishing losses tied to wallet drainers fell 83% to $83.9 million in 2025.The...

XRP Reality Check: 70% Expect Token to Remain Below $2 in Q1

About 70% of respondents expect XRP to remain under $2 in the near term.Nick...
- Advertisement -

Must Read

14 Ways On How to Make Money with Cryptocurrency

Many people want to make money with cryptocurrency because they have heard the success stories of people who became millionaires from zero.If you...
Bitcoin (BTC) $ 90,024.00 0.27%
Ethereum (ETH) $ 3,109.76 0.05%
XRP (XRP) $ 2.01 1.42%
Bittensor (TAO) $ 252.93 3.26%
Polkadot (DOT) $ 2.14 3.89%
Cardano (ADA) $ 0.388105 1.27%
Chainlink (LINK) $ 13.18 0.25%
Hyperliquid (HYPE) $ 24.96 1.53%
Monero (XMR) $ 434.72 3.38%
Hedera (HBAR) $ 0.120038 0.92%
Toncoin (TON) $ 1.84 0.86%