Russia has decided not to include cryptocurrencies in its National Welfare Fund (NWF), highlighting its cautious approach to digital assets. Deputy Finance Minister Vladimir Kolychev announced that there are no plans to incorporate cryptocurrencies into the NWF.
Reasons for Excluding Cryptocurrencies from the NWF
The main reasons for Russia's decision are the high volatility and lack of stability associated with cryptocurrencies, which do not align with the strategic goals of the NWF. The fund focuses on supporting the pension system and financing major infrastructure projects, requiring stability and long-term value preservation.
The Concept of a Strategic Crypto Reserve
Kolychev mentioned that he is not aware of any discussions about creating a strategic cryptocurrency reserve. This highlights the difference in how countries approach cryptocurrencies; while some consider them as strategic assets, Russia clearly does not follow this path for its National Fund.
Vladimir Kolychev's Stance on Cryptocurrencies
Kolychev's statements reflect a cautious approach by the Russian Ministry of Finance towards cryptocurrencies as national financial instruments. Although Russia explores crypto regulation, including digital ruble initiatives, this announcement shows a clear separation between these efforts and the management of national wealth funds.
Russia's decision to exclude cryptocurrencies from its National Welfare Fund underscores a pragmatic approach focused on minimizing risk and prioritizing stability. However, the country continues to explore other aspects of digital asset use within its financial system.
