🌀Elvira Nabiullina, the head of the Bank of Russia, has stated that the use of cryptocurrencies as a means of payment within the domestic market is unacceptable. The central bank does not intend to promote cryptocurrency-related employment or consider investments in digital assets due to their volatility.
🌀The financial regulator is concerned that cryptocurrencies could destabilize the domestic market and undermine monetary policy. However, the Bank of Russia supports the use of crypto assets in international transactions under an experimental legal framework. The Ministry of Finance also advocates for cross-border operations but remains opposed to the domestic circulation of cryptocurrencies.