Nabiullina: cryptocurrency more disadvantages

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Nabiullina: cryptocurrency more disadvantages

The Central Bank of Russia in the near future will not create its own digital currency.

The head of the Central Bank of the Russian Federation during discussions with the managing Director of the IMF Christine Lagarde spoke about his relationship to the cryptocurrency market and plans of the Ministry on the further development of this sector in the country.

Currently I see more of disadvantages of cryptocurrencies, and now it is a very volatile asset, perhaps even more volatile than the most volatile of all known financial assets. So the question of consumer protection and investment protection.

— she said.

The official warned everyone who performs operations with the cryptocurrency of the potential loss of funds.

You need to understand why it is so attractive to people. It’s fast, economical cost, allows fast transactions between countries.

— said Nabiullina.

Elvira does not deny that bitcoin and other altcoins – in the future. She also stressed the advantages of the technology of distributed registers which need to be refined for large-scale implementation.

In her words, Central banks should develop a similar tool. However, to create its own digital currency the Central Bank of Russia in the near future, no plans and is wary of the phenomenon of cryptocurrencies.

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