Catenaa, Thursday, March 06-Russia Finance Ministry has stated it has no immediate plans to establish a national cryptocurrency reserve but could reconsider if the country’s National Welfare Fund (NWF) reaches a liquidity level of 7-10% of GDP.
Deputy Finance Minister Vladimir Kolychev said the ministry currently deems crypto assets too volatile for inclusion in the NWF, which remains heavily invested in gold and Chinese yuan. The fund, which is composed of 60% yuan and 40% gold, will maintain its current strategy until Moscow meets its financial targets.
Kolychev stressed that liquidity remains the top priority, stating that any reserve asset must hold its value and not be subject to extreme fluctuations. “When we get there, we will be able to think about different assets, including crypto,” he said.
Despite growing global interest in crypto reserves, Russia’s central bank holds the final authority on such decisions. Central Bank Governor Elvira Nabiullina, a long-time critic of digital currencies, has previously sought to impose strict regulations on the sector.
The statement comes amid increasing economic sanctions on Russia, which have prompted discussions on alternative financial strategies, including digital assets. However, for now, Moscow appears committed to traditional reserves until its economic benchmarks are met.
