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Russia Rules Out Bitcoin for National Wealth Fund, Sticks to Yuan and Gold Beincrypto 06 Mar 2025

Russia Rules Out Bitcoin for National Wealth Fund, Sticks to Yuan and Gold 🇷🇺

Russia's Deputy Finance Minister Vladimir Kolychev stated that there are no plans to add Bitcoin or any cryptocurrencies to the National Wealth Fund (NWF). The country will continue focusing on yuan and gold due to the high volatility of digital assets.

Kolychev emphasized the importance of high liquidity and low risk for assets held in the NWF, highlighting that digital assets do not meet these criteria. The Finance Ministry confirmed no intention of changing the current investment structure.

As of February 1, the NWF stood at 11.97 trillion rubles, equaling 5.6% of Russia's projected GDP for 2025. Russia has accepted cryptocurrencies in international trade but remains cautious about their strategic role.

The Russian parliament recently passed a law recognizing Bitcoin and other cryptocurrencies as assets, imposing income tax on crypto transactions. Russia continues using Bitcoin for international trade amidst sanctions without including it in national reserves.

Source: beincrypto.com ↗