During a press conference, Central Bank of Russia Governor Elvira Nabiullina made important statements regarding the use of cryptocurrencies, including Bitcoin.
Elvira Nabiullina's Speech
At the press conference, Elvira Nabiullina stated that the Central Bank does not plan to include cryptocurrencies such as Bitcoin in its reserves. She believes that high volatility makes cryptocurrencies unsuitable as a means of payment or store of value.
Proposal from Evgeny Masharov
Russian Civil Chamber member Evgeny Masharov proposed using Bitcoin and other crypto assets seized from criminal activities to create a government-backed cryptocurrency fund. The primary purpose of the fund will be to generate revenue for the government and support various social projects.
Continued Use of Cryptocurrencies in Russia
Despite the Russian Central Bank's reservations, cryptocurrencies continue to be used in many areas in Russia.
Considering the statements of the Russian Central Bank and the proposals of certain members of state organizations, the future use of cryptocurrencies in Russia will depend on economic conditions and regulatory changes.
