The Bank of Russia will not follow the example of El Salvador in the legalization of cryptocurrencies – Bits Media

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Банк России не последует примеру Сальвадора в легализации криптовалют - Bits Media

The head of the Central Bank of the Russian Federation Elvira Nabiullina once again opposed the use of cryptocurrencies in Russia. She again called the digital assets "monetary surrogate".

After the legalization of cryptocurrencies in Salvador as a payment fund international financial organizations and regulators criticized this step. The Central Bank of the Russian Federation also confirmed the intention to “go its own way”.

During a speech in the State Duma, Nabiullina said, that the regulator is not going to change its position in relation to digital assets:

“We relate to the so -called cryptocurrencies quite restrained. This is a monetary surrogate, And we are against that, so that cryptocurrencies, As private digital, I don't even want to call them money, used for calculations within the country ".

Cryptocurrencies are difficult to regulate, After all, these are not local assets, And the transnational market. Wherein, emphasized the head of the Central Bank of the Russian Federation, digital ruble - this is another matter. National digital currency is not cryptocurrency, This is only a digital shape of a conventional ruble.

“We need to give citizens and business convenient means of payment, Technologies allow you to do this ... but you need to do it at the national level, To make it clear, who is responsible, not private anonymous faces, which produce incomprehensible crypto acts ", - concluded Nabiullina.

At the same time, the position of the regulator caused criticism from the State Duma deputy Fedot Tumusov. He declared, that the Bank of Russia simply closes its eyes to cryptocurrencies, Instead of that, to organize adjustable and convenient sites for trading digital assets.

“Shortsightedness can be expensive for Russia. Cryptocurrencies are reality. And or we will accept it, Or lose ", - said Tumusov.

Elvira Nabiullina had already said earlier, that bitcoin is not a currency is a volatile and fairly risky asset.