The Russian Central Bank strongly opposes Bitcoin payments, reiterating that "responsible countries should not encourage the spread of cryptocurrencies."

The Central Bank of Russia (CBR) is actively promoting CBDC, while the central bank governor Elvira Nabiullina once again sternly stated and denied cryptocurrencies. She said that cryptocurrencies are anonymous, and the government should not encourage their proliferation. A "responsible country" should not stimulate the spread of cryptocurrencies.

This is Elvira Nabiullina's statement at the Russian State Duma, strongly opposing the legalization of cryptocurrencies such as Bitcoin as a means of payment in the Russian Federation.

Elvira Nabiullina described cryptocurrencies as "private money pretending to be currency."

These cryptocurrencies are anonymous, and no one is responsible for them. In our view, a responsible state should not encourage their spread and make them a payment option.

Elvira Nabiullina believes that there is indeed a need to provide alternatives for the people, and this is what the Russian Central Bank is doing through the development of a digital ruble, "In our view, this (digital ruble) should be developed."

In fact, the Russian monetary policy regulator stated that the Bank of Russia is not against digital currencies, as long as they are not used for "shadow operations." Elvira Nabiullina's opposition is specifically targeted at Bitcoin, opposing it from becoming a legal payment tool in the country.

The Central Bank of Russia has recognized the increasing popularity of cryptocurrencies and the growing demand for electronic payments, actively promoting the development of CBDC, namely the digital ruble. The prototype of the CBDC platform will be launched in December, with pilot projects starting in January next year.

According to Russia's latest financial market development strategy, issuing a digital ruble is to prevent citizens from becoming "currency agents" and to continue to prevent people from using "currency substitutes."

This article is authorized to be reprinted from Horizon News Network