Russian Lawmaker Praises Domestic Digital Financial Assets Amid Market Volatility
Anatoly Aksakov, chairing the State Duma Committee on the Financial Market, recently spoke about the cryptocurrency landscape, noting its unpredictability and urging stronger emphasis on domestic digital financial assets. The comments emerged during an interview with a major regional outlet, highlighting ongoing discussions about how Russia can position itself within the evolving digital asset space. (Source: Parliamentary Newspaper)
While he remained cautious about bitcoin, Aksakov observed that a growing cohort of participants is active in this market, including Russia itself. He pointed to the price movements of cryptocurrencies as being influenced by broader tensions in the international financial system. In times of perceived risk, investors often seek alternatives that allow them to manage savings with greater predictability, and bitcoin has frequently been cited as an attractive option in such moments. (Source: Parliamentary Newspaper)
The deputy stressed the extreme volatility of the leading cryptocurrency. He recalled a period when bitcoin traded near eight-figure dollar levels, then fell dramatically to single-digit thousands, and has since fluctuated, recently hovering around the thirty-thousand-dollar mark. This volatility, he argued, underscores the need for a robust domestic framework to support digital assets as part of a balanced investment approach. (Source: Parliamentary Newspaper)
Aksakov forecast a notable acceleration in the issuance of Russian digital financial assets within the year, driven by the ruble, national wealth, natural resources, and the capabilities of domestic companies. He emphasized that these elements could make DFA issuance a key feature of Russia’s financial landscape, contributing to more diversified investment avenues for citizens and institutions alike. (Source: Parliamentary Newspaper)
According to the expert, the year ahead, and especially the next couple of years, could see heightened involvement of digital financial assets in Russia’s economy. He continued to advocate for a regulatory framework that supports innovation while preserving financial stability, noting that credible growth hinges on clear rules and reliable oversight. (Source: Parliamentary Newspaper)
In a broader context, the national leadership has already moved to establish a formal environment for digital assets. A law related to the turnover of digital financial assets remains in force, providing a framework for how these instruments are issued, traded, and accounted for within the country. Mikhail Mishustin, the head of the government, has suggested that promoting digital assets as stable payment vehicles could help ensure continuity in trade, including imports and exports. (Source: Parliamentary Newspaper)