Summary
- The Central Bank of Russia announced that it has no plans to include Bitcoin or other cryptocurrencies as reserve assets.
- The central bank stated that due to the volatility and risks of cryptocurrencies, it does not consider holding them.
- Russian authorities reaffirmed their existing policy of opposing the use of cryptocurrencies as a domestic means of payment, while permitting holdings only for qualified investors for investment purposes.
The Central Bank of Russia (CBR) has officially announced that it has no plans to include Bitcoin (BTC) or other cryptocurrencies as reserve assets.
According to cryptocurrency-specialized media outlet Cryptopolitan on the 4th (local time), Elvira Nabiullina, Governor of the CBR, stated at the International Financial Congress (IFC), "Cryptocurrencies are highly volatile and risky," adding, "The central bank does not consider holding them."
On the same day, the CBR reaffirmed its existing stance by opposing the use of cryptocurrencies as a domestic means of payment, while permitting holdings for investment purposes only to overseas businesses or qualified investors. Previously, in March, the Ministry of Finance of Russia stated, "There are no plans to include cryptocurrencies in the National Welfare Fund."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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