Russian central bank governor says cryptocurrency is the most dangerous investment

Despite growing concerns that the country is missing out on the digital asset industry, Russian banks continue to take a tough stance on cryptocurrency transactions.

In an interview with the Communist Youth League Pravda newspaper on Monday, the governor of the Russian Central Bank, Elvira Nabiullina, reiterated the bank’s negative stance on cryptocurrencies. debate Cryptocurrency is one of the most dangerous investments in existence.

Nabiullina mentioned encryption in the context of other high-risk investment spaces such as the foreign exchange market. “It is much easier to win than to lose in the foreign exchange market,” she said, noting that “speculative crypto assets” are more risky.

The bank president stated that prices in the cryptocurrency market are extremely volatile, and said that “the loss may be huge.” She further emphasized that the Bank of Russia does not recommend crypto investment to the public:

“The central bank never provides investment advice, but under this special situation, the central bank absolutely does not recommend it.”

Nabiulina had previously statement Cryptocurrencies like Bitcoin (Bitcoin) Is “fake money” and should not be used in settlements in Russia.As early as 2017, she mentioned As a “gold rush”, cryptocurrency is becoming more and more popular around the world.

related: Bank of Russia will start digital ruble trial in 2022

Despite being skeptical about encryption, Nabiullina is optimistic about the digital currency project of the Russian Central Bank, the digital ruble.She said there was one last year The digital ruble will help businesses By eliminating financial middlemen.

The Bank of Russia’s stance on cryptocurrencies has been increasingly criticized, a member of the State Duma Blame the central bank Short-sightedness of the industry.Oleg Deripaska Blow up the central bank last week Because it is hesitant to identify cryptocurrencies.