Russia Rejects Bitcoin as Reserve Asset, Cites High Risk
Russia’s central bank remains firm in its stance against using cryptocurrencies as legal tender or including them in national reserves.
Despite limited allowances for cross-border transactions and investment by qualified individuals, the broader position remains cautious.
Speaking at the Central Bank of Russia’s Finance Congress in St. Petersburg, Governor Elvira Nabiullina made it clear that Bitcoin and similar assets are off the table when it comes to reserve holdings. Labeling them volatile and risky, she dismissed the idea of the central bank investing in crypto.
“We don’t see cryptocurrencies as stable or reliable enough for inclusion in our reserves,” Nabiullina said, emphasizing their unpredictability.
Russia continues to reject domestic crypto payments but has made some exceptions. The central bank allows their use in foreign economic activities and investments, particularly by experienced traders and institutions. Still, the message is clear: while digital assets may play a role at the fringes of Russia’s economic strategy, they won’t be replacing rubles — or gold — anytime soon.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
