The head of the Central Bank of Russia, Elvira Nabiullina, said at a press conference that the government bill does not provide an answer to the possible risks that the Central Bank predicts.

The Chair emphasized the following:

1. Each party presented its position and approaches regarding the cryptosystem, its legalization and implementation in the country's banking system.
2. The information provided is useful for public discussion and contributes to further public discussion in a clear and transparent way.
3. Emphasis was placed on threats in the development of the market segment, which may affect the security of citizens, as well as financial stability in general, on a small and large scale. An assumption has been put forward in the growth of risks on the use of virtual currency for operations of illegal content.
4. The government is considering the positive aspects of regulating the crypto system, but the concept sidesteps the dangerous issues raised by the central bank.

The country's leadership believes that among citizens there is a fairly high level of involvement in the virtual currency system, and therefore the right decision is to legalize the crypto market in Russia. The position of the head of the Central Bank in this regard is as follows: to take measures to reduce the level of involvement of residents in the virtual market system.

Elvira Nabiullina gave an example of foreign currency loan obligations. She said that citizens applied for mortgages without any danger, on attractive terms, without realizing the full degree of riskiness. The resulting difficulties, as a result, had to be solved by the Central Bank. The head of the Central Bank noted that the scale of currency risks was then much less, and suggested taking this fact into account in relation to the crypto coin.