{"id":69707,"date":"2022-11-08T12:35:45","date_gmt":"2022-11-08T10:35:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69707"},"modified":"2025-09-07T21:40:50","modified_gmt":"2025-09-07T18:40:50","slug":"central-bank-of-russia-backs-digitalisation-of-finance-without-bitcoin-payments","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/central-bank-of-russia-backs-digitalisation-of-finance-without-bitcoin-payments\/","title":{"rendered":"Central Bank of Russia backs digitalisation of finance without Bitcoin payments"},"content":{"rendered":"<p>The Bank of Russia has once again spoken out against the use of cryptocurrencies in settlements. This was reported by <a href=\"https:\/\/tass.ru\/ekonomika\/16268321\">\u0422\u0410\u0421\u0421<\/a> citing a statement by Central Bank head Elvira Nabiullina.<\/p>\n<p>In her words, the regulator advocates developing digital financial assets and modern technologies, but they should not be reduced to cryptocurrencies alone.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe have not changed our position regarding private cryptocurrencies \u2014 about which it is unclear who is responsible and how, which are opaque and carry large volatility risks \u2014 not to be used in settlements,\u201d Nabiullina said.<\/p>\n<\/blockquote>\n<p>At the same time, the head of the central bank noted that financial digitisation could help Russia trade with foreign partners.<\/p>\n<p>As reported, the Ministry of Finance wants <a href=\"https:\/\/forklog.com\/en\/news\/russia-weighs-lifting-restrictions-on-cross-border-crypto-settlements\">to allow international settlements in cryptocurrencies<\/a> for any sector without restrictions. The initiative will require coordination with the central bank. Moscow Exchange or SPB Exchange could serve as service centres for conducting deals.<\/p>\n<p>Against the backdrop of tightened sanctions, Russian companies have partly <a href=\"https:\/\/forklog.com\/en\/news\/russian-firms-increasingly-use-cryptocurrencies-for-cross-border-settlements-amid-sanctions\">moved to settlements in cryptocurrencies<\/a>, despite the lack of regulation.<\/p>\n<p>By 19 December, the government was tasked with preparing <a href=\"https:\/\/forklog.com\/en\/news\/russia-proposes-adding-cryptocurrencies-to-the-civil-code\">proposals agreed with the central bank<\/a> for the development of cryptocurrencies and the digital ruble.<\/p>\n<p>The roadmap should include provisions regulating mining and the circulation of digital currency on the territory of the country, as well as its use in international settlements.<\/p>\n<p>Read ForkLog\u2019s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The head of the Bank of Russia, Elvira Nabiullina, again spoke out against using cryptocurrencies in settlements.<\/p>\n","protected":false},"author":1,"featured_media":69708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[345,1451,1198,1996,1138],"class_list":["post-69707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-russia","tag-bitcoin-regulation-in-russia","tag-crypto-payments","tag-elvira-nabiullina","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69707"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69707\/revisions"}],"predecessor-version":[{"id":69709,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69707\/revisions\/69709"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69708"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}