The Central Bank does not consider cryptocurrencies as means of payment used in Russia. Deputy Chairman of the Bank of Russia Olga Polyakova announced this during a speech at the Cybersecurity in Finance forum.
“First of all, I would like to outline the unambiguous position of the Bank of Russia, which we have already expressed more than once. We do not consider cryptocurrencies as a unit of account on the territory of the Russian Federation.”the economist assured.
She emphasized that currently Russian banks are insignificantly involved in the circulation of cryptocurrencies. However, the Central Bank noted that over the past three years this type of funds has become more often used both for domestic needs and for foreign economic settlements and investment.
Polyakova also added that Russians can invest in cryptocurrencies, but such investments carry high risks, which investors need to take into account.
At the same time, in April 2023, the head of the Central Bank, Elvira Nabiullina, announced that the regulator would conduct an experiment by allowing the use of cryptocurrency in foreign trade.
