Despite limited allowances for cross-border transactions and investment by qualified individuals, the broader position remains cautious.
Speaking at the Central Bank of Russia’s Finance Congress in St. Petersburg, Governor Elvira Nabiullina made it clear that Bitcoin and similar assets are off the table when it comes to reserve holdings. Labeling them volatile and risky, she dismissed the idea of the central bank investing in crypto.
“We don’t see cryptocurrencies as stable or reliable enough for inclusion in our reserves,” Nabiullina said, emphasizing their unpredictability.
Russia continues to reject domestic crypto payments but has made some exceptions. The central bank allows their use in foreign economic activities and investments, particularly by experienced traders and institutions. Still, the message is clear: while digital assets may play a role at the fringes of Russia’s economic strategy, they won’t be replacing rubles — or gold — anytime soon.
