- 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.
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.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Saylor Sets Sights on Making MicroStrategy a Leading Bitcoin Bank
- Senator Lummis Unveils Crypto Tax Bill With $300 Exemption Limit
- Chinese Hackers Exploit Ivanti CSA Zero-Days in Major France Attack
- Senator Lummis Proposes Bill to Exempt Crypto Taxes Under $300
- First Abu Dhabi Bank to Launch Middle East’s First Digital Bond
