Russia’s Finance Minister Anton Siluanov expressed interest in acquiring cryptocurrencies but has not taken any steps in that direction so far. He shared this in an interview with the Russian state TV channel “Rossiya-24.”

“I find it interesting, but I don’t have a crypto wallet,” he said.

Earlier, Siluanov mentioned that volatility is the main risk when considering cryptocurrencies as a means of savings. However, he praised their potential for facilitating payments.

Anatoly Aksakov, the head of the State Duma’s Financial Market Committee, also revealed that he does not store his savings in digital currencies, which he shared in an interview with “Parliamentary Newspaper.”

“When it comes to using cryptocurrency as a savings tool, personally, I don’t use it for that purpose and I wouldn’t recommend it due to its high volatility,” the lawmaker said.

He also mentioned that the Central Bank of Russia is preparing regulations for conducting the first official international crypto payments.

It’s worth noting that, starting from September 1, 2024, a new law in Russia allows for the use of cryptocurrencies for foreign trade transactions and exchange trading under experimental legal frameworks.

The Central Bank plans to conduct the first cross-border crypto payments by the end of 2024. Bank of Russia Governor Elvira Nabiullina has called cryptocurrencies “an alternative payment channel” for transactions with foreign partners, whose deals have been affected by international sanctions.