The head of the Bank of Russia, Elvira Nabiullina, stated that she does not see any circumstances under which cryptocurrency could be included in the reserves of the Central Bank of the Russian Federation.
The approach to reserves differs between countries that issue reserve currencies themselves and other states. For Russia, such qualities of a reserve currency as liquidity, minimal exposure to credit and market risks, and the ability to be quickly used in a crisis without significant loss of value are important. In this regard, cryptocurrencies do not meet the requirements for reserve assets.
We maintain our old position that cryptocurrencies should not be allowed as a means of payment
Nabiullina proposed introducing a ban on settlements in digital assets between residents outside the experimental legal regime, providing for liability for violation of this ban.
Read materials on the topic:
Cryptocurrency recognized as property in Russia: details of the adopted law
Central Bank opposes the use of cryptocurrencies as a means for domestic payments
Nabiullina said that there is no need to refuse the digital ruble through the MFC
