The Bank of Russia again opposed the use of cryptocurrencies within the country

The head of the mega-regulator, Elvira Nabiullina, called digital assets a money surrogate and explained the complexitytheir regulation at the national level.

The Bank of Russia continues to opposethe use of cryptocurrencies for settlements within the country, said the head of the Central Bank Elvira Nabiullina. During her speech in the State Duma with an annual report, she said that the position of the financial regulator in relation to cryptocurrencies has not changed.

“We belong to the so-called cryptocurrenciesquite restrained. This is a monetary surrogate, and we are against the idea of ​​cryptocurrencies, like private digital ones, even money they don’t want to call them, used for settlements within the country, ”Nabiullina said.

According to her, the cryptocurrency market is difficultlimit at the national level because it is transnational. The head of the Bank of Russia emphasized that cryptocurrencies and the digital ruble should not be confused, since the latter is a digital form of the national currency backed by the Central Bank.

“We need to give citizens and businesses comfortablemeans of payment, technologies allow to do this ... But this must be done at the national level, so that it is clear who is responsible, and not private anonymous persons who issue incomprehensible cryptoassets, "Nabiullina concluded.

In February, she warned that bitcoin is a highly volatile asset that can quickly drop in value. The Chairman of the Central Bank noted the interest of the population in the asset with its high risks.

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