Russia’s finance frontman, Anton Siluanov, dropped some crypto truth in his latest chat with “Россия-24,” right after the State Duma gathering. He’s pegging crypto as a “good instrument” for cross-border trades but throws down caution on using it for socking away wealth. Because, yeah, crypto might be the hottest tool for dealing international, but as a piggy bank? Not so much.
Crypto’s Wild Ride: Trade-Worthy, Not Treasury-Ready
Siluanov’s got his eyes wide open on the yo-yo nature of crypto. The man didn’t hold back, saying, “We see the ups and downs of crypto rates. As a saving tool, it’s volatile. I wouldn’t recommend our citizens consider [cryptocurrencies] as a means for savings.” But when it comes to settle-ups in foreign trades? Well, now we’re talkin’. For him, that’s where crypto shines—big time.
Russia, looking to roll with the changing financial tides, is trying out crypto for export and import settlements. Siluanov hints that digital assets are already in play, spreading across multiple trade channels like it’s nothing.
Small Potatoes for Now, But Door’s Open
Siluanov isn’t exactly promising a flood of crypto trade. He’s got his reservations: don’t expect massive volumes. But, he admits there’s enough juice here to keep crypto around. “I don’t think there will be any large volumes, but this possibility will certainly be used,” he dropped.
It’s a cautious bet, a dabble in the crypto pool without diving in headfirst. This way, Russia stays nimble on the trade scene, throwing crypto into the mix without betting the whole treasury on it.
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