Japan And Russia Rule Out National Bitcoin Reserves

According to PANews, both Japan and Russia have decided against establishing national Bitcoin reserves, opting to observe developments in other countries like the United States before making any decisions. Japanese Prime Minister Shigeru Ishiba responded to a parliamentary proposal by stating that current Japanese laws prohibit holding crypto assets, and Bitcoin's high volatility is incompatible with the existing foreign exchange reserve system. Similarly, Russian Finance Minister Anton Siluanov noted that despite Bitcoin's rapid price growth, its unpredictability deters the country from taking on related risks. Both nations are adopting a cautious approach, while countries like the United States and Brazil are actively exploring the potential of Bitcoin as a national reserve asset.