Digital Ruble Push: Bank of Russia Reinforces That Crypto Can’t Be Used for Domestic Payments

The Bank of Russia has reiterated its stance that cryptocurrencies cannot be used for domestic payments, emphasizing the push for a digital ruble instead. This decision is significant as it highlights the government's efforts to regulate the financial landscape and promote a state-backed digital currency, which could reshape how transactions are conducted in the country. The move may also impact the adoption of cryptocurrencies among the public, as it limits their use in everyday transactions.