After a recent statement on allowing cryptocurrency’s use for international payments, Russia gave much needed clarification on the plans. Recent reports suggested that Russia would not allow crypto payments within its territory. In this context, the head of Russia’s central bank, and other authorities made latest comments on various matters including Russia crypto bill.
Russia Against Crypto Penetration
On Thursday, Elvira Nabiullina, the head of Bank of Russia, stated that the country could allow crypto payments under certain conditions. She said crypto payments could be allowed if the crypto ecosystem does not affect the country’s economy.
According to Russia’s RBC portal, Nabiullina said cryptocurrencies can be used in international payments if they do not penetrate the Russian financial system. The central bank head said crypto assets are subject to high price fluctuations.
“Cryptocurrency should not be traded on organized marketplaces because this asset is too volatile, too risky for potential investors.”
She stated that investor protection is of high importance when dealing with these assets. Digital assets must comply with all requirements created to protect the investors, she reportedly said.
