Russia has no plans to build a Bitcoin reserve, Ministry of Finance: National Fund prefers RMB and gold

The Russian Ministry of Finance stressed that the National Welfare Fund will maintain a sound investment strategy, will not consider encryption assets in the short term, and will still use gold and people's coin as the core allocation to ensure the safety of fiscal reserves and liquidity. (Synopsis: Come on!) Trump suspends US military aid to Ukraine, EU plans to confiscate 200 billion euros of Russian assets) (Background supplement: Russia's new rules require "KYC for mining", Miner must report income on the 20th of each month) According to the Russian media Interfax, Deputy Finance Minister Vladimir Kolychev said in an interview, The Ministry of Finance does not plan to adjust the investment allocation of the National Welfare Fund (FNB) and will not consider adding encryption assets. Vladimir emphasizes: Because the volatility is too large, and the current cumulative size of the fund is not enough to take on high-risk investments. Gold and People's Coin remain the Fund's main investment targets. It is understood that in the standardized investment structure of the Russian National Welfare Fund, the proportion of people's coin holding can reach up to 60%, and gold can reach 40%. As for whether it will follow the example of the "Cryptocurrency Strategic Reserve" proposed by the Trump administration, Kolychev responded directly: I have not heard of such discussions, which should be the remit of Russia's Central Bank. The fluctuation of encryption assets is too large, which does not meet the principle of sound investment of the fund Kolychev further explained that the National Welfare Fund, as Russia's financial reserve, must ensure the liquidity and stability of assets, and be able to quickly realize when necessary, without losses due to sharp fluctuations in market prices. He gave an example: We want to invest 1 ruble, and in the future at least 1 ruble, and not only 0.5 rubles. But the volatility of encryption assets is too high to meet this standard. He added that the current cumulative size of the fund is still not enough to take on high-risk investments. According to the Treasury's strategy, when the fund size reaches 7% to 10% of GDP, some of the capital will be considered for investing in assets with lower liquidity but potentially higher returns. Until then, the fund will remain focused on low-risk, high-liquidity investments, so encryption assets will not be considered in the short term. Russia's current stance on BTC is one of "pragmatism and control": allowing it to be used and mined in international trade in response to sanctions and economic needs, but strictly prohibiting domestic payments and ensuring control through taxation and regulation. In August 2024, Russian President Vladimir Putin signed a bill allowing businesses to use cryptocurrencies such as BTC in international trade to bypass Western sanctions. This law came into effect in September 2024, and the first trial transactions were launched at the end of 2024. Since November 2024, Russia has officially recognized BTCMining as a legal activity, allowing registered businesses and individuals to participate. BTC may not be used as a means of payment on the territory of Russia. According to the Law on Digital Financial Assets (enacted in 2020 and updated in 2024), Russia's Central Bank insists that the ruble is the only legal coin of goods, and BTC is defined as property rather than coin of goods, which is prohibited from being used to purchase goods or services. Related reports Come really! Trump suspends US military aid to Ukraine, EU plans to confiscate 200 billion euros of Russian assets Russia's new rules require "KYC for mining", and Miner must report income on the 20th of each month Russian Federal Security Service: A national funded the Ukrainian army with cryptocurrency and sentenced to 7 years for treason (Russia has no intention of building BTC reserves, Ministry of Finance: The state fund loves the people more coin and gold) This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Block Chain News Media".