Russia’s central bank governor Elvira Nabiullina said cryptocurrencies can be used for cross-border or international payments, but not domestic payments, according to RBC, noting that cryptocurrencies can only be used for cross-border or international payments if they do not “penetrate” Russia’s domestic financial system. international payments.
In addition, Nabiullina said, “Cryptocurrencies should not be traded on organized markets because these assets are too volatile and too risky for potential investors, and digital assets must comply with all requirements and policies established for the protection of investors.”
Anatoly Aksakov, head of the Russian State Duma’s Financial Markets Committee, believes that a bill on regulating cryptocurrencies could be submitted to the State Duma in September this year. According to him, lawmakers are leaning toward stricter regulation of the crypto market.