Russian Central Bank: We Realize Benefits and Risks of Bitcoin

Elvira Nabiullina, chairman of the Central Bank of Russia, declared the bank sees the way Bitcoin market develops, and notices particular risks involved.

In her interview to CNBC she stated that Bitcoin could hardly become a reserve currency.

I hardly can imagine a situation where Bitcoin could be a currency deemed reserve, she said.

Nabiullina noted that the Central Bank sees the Bitcoin market developing and notices particular risks involved.

We have warned economic actors of that. Due to anonymity of most operations, they could be used to perform some ambiguous operations.

However, the regulator stated, the Central Banks also sees advantageous side of Bitcoin, being its efficiency, mobility and low costs involved.

That’s why this direction of financial markets development is so demanded. We will keep our eyes on it, and regulate it if necessary,

Nabiullina said.