The Central Bank of Russia is considering allowing the use of cryptocurrency domestically, but only to support foreign trade

ChainCatcher news, Elvira Nabiullina, the Governor of the Central Bank of Russia, stated at the Central Bank's press conference on December 16: "Transactions conducted through authorized organizations in the country can be considered part of an experimental legal framework, but this requires relevant legislation." Nabiullina emphasized that the Central Bank of Russia's only objection has always been that cryptocurrencies cannot be used as a means of payment. She added that the central bank is also concerned about investor protection, as the crypto market is highly volatile.

Alexey Zabotkin, Deputy Governor of the Central Bank of Russia, stated that while Russia has not officially banned its citizens from investing in cryptocurrencies, the Central Bank believes that the widespread adoption of cryptocurrencies will inevitably lead to their use as a means of payment. Therefore, if adopted, Russia's experimental framework will be used to support the use of cryptocurrencies within the country, but only to support foreign trade. (Source link)