Bank of Russia governor insists buying Bitcoin is not on its agenda
The post Bank of Russia governor insists buying Bitcoin is not on its agenda appeared on BitcoinEthereumNews.com. The Bank of Russia is not considering investments in cryptocurrencies, its governor has indicated, despite Bitcoin reserves gaining popularity with monetary authorities around the world. Russia’s main financial regulator remains opposed to using decentralized digital money for payments, its head clarified, while leaving the door open to spending crypto in foreign trade. CBR not looking into buying BTC or other cryptocurrencies The Central Bank of Russia (CBR) is wary of cryptocurrencies like Bitcoin (BTC), allowing only qualified investors and participants in cross-border exchange access to the digital coins that are yet to be properly regulated in the Russian Federation. As for acquiring crypto for its own reserves, the authority is not currently reviewing such possibility, according to a statement by its Chair, Elvira Nabiullina. Speaking at a briefing during the International Financial Congress in St. Petersburg, she stressed: “Considering our attitude towards them as risky and volatile assets, we certainly do not consider that we as the central bank may invest in that.” Quoted by RBC and TASS, Nabiullina also remarked that the CBR is still opposed to using cryptocurrencies as a means of payment in Russia, where the ruble is the only legal tender by law, and maintains that only “highly qualified investors” and companies trading abroad can have them. She insisted: “We continue to be against using cryptocurrencies in payments inside the country. That is, ‘yes’ for foreign economic activity, ‘yes’ for particularly qualified investors as a target for investments. Nevertheless, we are against their use as a means of payment.” The Bank of Russia’s stance on keeping crypto in government coffers is backed by the country’s finance ministry. In March, Deputy Minister of Finance Vladimir Kolychev stated that the department did not intend to add volatile digital assets to the investment portfolio of the National Welfare Fund.…
The post Bank of Russia governor insists buying Bitcoin is not on its agenda appeared on BitcoinEthereumNews.com.
The Bank of Russia is not considering investments in cryptocurrencies, its governor has indicated, despite Bitcoin reserves gaining popularity with monetary authorities around the world. Russia’s main financial regulator remains opposed to using decentralized digital money for payments, its head clarified, while leaving the door open to spending crypto in foreign trade. CBR not looking into buying BTC or other cryptocurrencies The Central Bank of Russia (CBR) is wary of cryptocurrencies like Bitcoin (BTC), allowing only qualified investors and participants in cross-border exchange access to the digital coins that are yet to be properly regulated in the Russian Federation. As for acquiring crypto for its own reserves, the authority is not currently reviewing such possibility, according to a statement by its Chair, Elvira Nabiullina. Speaking at a briefing during the International Financial Congress in St. Petersburg, she stressed: “Considering our attitude towards them as risky and volatile assets, we certainly do not consider that we as the central bank may invest in that.” Quoted by RBC and TASS, Nabiullina also remarked that the CBR is still opposed to using cryptocurrencies as a means of payment in Russia, where the ruble is the only legal tender by law, and maintains that only “highly qualified investors” and companies trading abroad can have them. She insisted: “We continue to be against using cryptocurrencies in payments inside the country. That is, ‘yes’ for foreign economic activity, ‘yes’ for particularly qualified investors as a target for investments. Nevertheless, we are against their use as a means of payment.” The Bank of Russia’s stance on keeping crypto in government coffers is backed by the country’s finance ministry. In March, Deputy Minister of Finance Vladimir Kolychev stated that the department did not intend to add volatile digital assets to the investment portfolio of the National Welfare Fund.…
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