Investments of Russians in cryptocurrencies may lead to a reduction in the Russian financial sector and reduce the growth potential of the Russian economy, as well as the replacement of the ruble. This was stated by the first Deputy Chairman of the Central Bank Ksenia Yudaeva, writes “Kommersant”.

“Investments of citizens in cryptocurrencies may lead to the withdrawal of savings from the real economy, stock market, banking system outside the perimeter of the Russian financial sector and, as a consequence, to reduce its ability to finance the real sector, primarily sanctioned companies, and reduce the growth potential of the economy, which may subsequently create problems in the labor market and reduce the incomes of citizens,” – follows from the statement of Yudaeva.

In case of mass acquisition of cryptocurrencies, their use as a means of payment seems inevitable, according to the Central Bank. According to the regulator, in this case, the ruble will be replaced as the Russian monetary unit by cryptocurrencies, the shadow economy will expand and tax revenues will be reduced.