Russia’s central bank governor Elvira Nabiullina is the latest official to confirm that the country is warming to the idea of cryptocurrency payments, but not domestic ones.
According to Nabiullina, cryptocurrencies can be used in cross-border or international payments only if they don’t get into Russia’s domestic financial system.
The digital currency should not be used as payment on platforms inside Russia, the Bank of Russia governor said in an interview with the local news agency RBC. That is why cryptocurrency prices are too unstable or volatile, thus risky for retail investors, Nabiullina argued, stating:
“Cryptocurrencies should not be traded on organized marketplaces because these assets are too volatile, too risky for potential investors.”
Nabiullina went on to say that digital assets must comply with all requirements and policies created to protect investors. As such, all assets that are listed on an exchange must have an emission prospectus and a responsible person as...
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