The Chairman of the Central Bank of the Russian Federation Elvira Nabiullina believes that the cryptocurrency’s not similar to money. She stated this in an interview with channel “Russia 24” at the St. Petersburg international economic forum.
“The other side is a cryptocurrency, although I wouldn’t call it currency, and “kryptonite”. The whole world is trying to understand what it is. Few people define it as the Fiat currency or something like a Fiat currency. Whether it is an asset, whether it is property, whether it’s rights – such disputes are because this phenomenon is not fully understood,” – said Nabiullina.
Head of the Central Bank also reminded that crypto currencies are highly speculative volatile asset and involve a number of risks.
“Those people who bought bitcoin for $20 million, imagine how much you’ll loose if you need to sell. This is not the way of savings, not a way to invest reliable. Second: it is no secret that the cryptocurrency is used for laundering, illegal transactions because of the anonymity, and, of course, we cannot be indifferent”, – said Nabiullina.
However, she noted that in relation to the financial technology underlying crypto-currencies such as blockchain, the Central Bank is positive. The regulator sees them as prospects and test them with the market.
Earlier, in March, Nabiullina said that cryptocurrencies will not protect the rights of investors.