Russias Central Bank Stands Firm Against Bitcoin Reserves
Governor Elvira Nabiullina made it clear during a press conference that digital assets do not align with the institutions financial strategy.
Citing concerns over high volatility and instability, Nabiullina dismissed the idea of Bitcoin as a reliable store of value or payment method.
She emphasized that reserve assets must be highly liquid and resistant to market risks, characteristics she believes crypto lacks.
Meanwhile, proposals have emerged suggesting that Russia could create a government-backed crypto fund using confiscated digital assets. Proponents argue that such a fund could generate state revenue and finance social programs.
However, despite these discussions, the central bank remains firm in its opposition, while cryptocurrency use in Russia continues to grow.
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Text source: Coindoo
