Speaking to the local press in Russia, a Central Bank official listed his criticisms about the legalization of crypto money, which has been on the agenda in the country in recent months.
Elizaveta Danilova, Director of Financial Stability of the Russian Central Bank, cryptocurrencies if it is included in the financial ecosystem of the country “fundamental risks” worried that it will happen.
Danilova noted that the legalization of crypto in Russia could harm the well-being of the citizens of the country. According to the MB executive, this could also lead to an increase in illegal financial activities.
Although the official is against the individual use of cryptocurrencies, he has a different opinion in international trade. According to Danilova, even the Central Bank has no objection to using cryptocurrencies in international transactions.
The Financial Stability Director’s ideas are not just his own. Central Bank Governor Elvira Nabiullina, who has been sitting in her seat for a long time, emphasized that her opinion on crypto has not changed in a recent statement.
Nabiullina, one of the country’s biggest crypto critics, does not want digital asset activity in the domestic market.
Ministry of Finance Wants to Legalize Crypto
Even though Russia’s Central Bank officials have taken an anti-crypto stance, the government wants to have broad crypto regulation. The Ministry of Finance has been working for a long time for tokens to reach legal status.
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