Russian State Duma Financial Market Committee Chairman: "Virtual assets will never become currency in Russia"
Summary
- Aksakov said virtual assets can never become currency in Russia.
- Russia views virtual assets as investment assets and said it plans to begin discussions on a bill covering investments and derivatives.
- The central bank is gradually allowing the handling of virtual assets and derivatives and said it is preparing the 2026 public rollout of the digital ruble.
Anatoly Aksakov, chairman of the State Duma (lower house) Financial Market Committee, expressed a negative view on virtual assets (cryptocurrencies).
On the 16th (Korean time), according to Cryptopolitan, Aksakov said, "Virtual assets can never become currency in our country," and emphasized, "Payments can only be made in rubles."
Russia views virtual assets primarily as investment assets. Aksakov said earlier this month that he would begin discussions on a bill aiming for 2026 to comprehensively regulate virtual asset investments and derivatives. The central bank is also gradually opening the door to allow banks and asset managers to handle virtual assets and related derivatives.
In addition, Russia is proceeding with the introduction of a state-led central bank digital currency (CBDC), the digital ruble. After pilot programs, the digital ruble will be gradually made available to the public from September 2026. The government plans to increase its use in budget execution and public transfers.
Uk Jin
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