Russian Economist Warns Against Establishing National Crypto Reserve

According to ShibDaily, Valentin Katasonov, Chairman of the S. F. Sharapov Russian Economic Society and a Doctor of Economics, has expressed concerns over Russia's potential establishment of a national cryptocurrency reserve. Katasonov argues that cryptocurrencies are speculative assets rather than legitimate forms of money, posing significant risks to economic stability. He likened the idea of a national crypto reserve to "laying landmines" in the economy, warning that if the speculative bubble bursts, it could lead to widespread economic damage. Katasonov's skepticism is shared by Russia's Central Bank Governor, Elvira Nabiullina, who has proposed a ban on crypto transactions between residents, allowing them only within a controlled legal framework. This reflects the government's cautious stance on digital assets. Katasonov also criticized proponents of integrating cryptocurrency into Russia's official economic system, suggesting they might be part of a "fifth column" aiming to undermine the country's financial security. He noted that while some countries, including the United States, have considered establishing Bitcoin reserves, the concept remains largely theoretical. In contrast, U.S. President Donald Trump recently signed an Executive Order to create a Strategic Bitcoin Reserve and a Digital Asset Stockpile, funded by cryptocurrency seized in government criminal cases. This initiative is part of a broader strategy to manage digital assets within the nation's financial framework, emphasizing secure handling and long-term management. Federal agencies have been directed to report on their digital asset holdings and assess their authority to transfer seized assets into these reserves. The Department of the Treasury is reviewing the economic and legal implications of maintaining such reserves and may propose further legislation. This move indicates a shift in U.S. policy towards recognizing the strategic value of digital assets, moving away from rapid liquidation to a more integrated financial strategy.