Russian Lawmaker Proposes National Bitcoin Reserve to Combat Sanctions

In response to increasing sanctions and financial isolation, a Russian lawmaker has proposed the creation of a national Bitcoin reserve to safeguard the country's financial stability.

Anton Tkachev, a member of the Novye Lyudi party, has put forward the idea to Finance Minister Anton Siluanov, arguing that digital assets could provide an essential alternative to traditional foreign currency reserves, which are vulnerable to geopolitical pressures.

With international payment systems becoming less accessible due to sanctions, cryptocurrencies are emerging as a potential lifeline for countries like Russia. Tkachev highlighted that conventional foreign reserves are at risk of devaluation and political interference, making them less reliable.

In contrast, Bitcoin, as a decentralized asset, could act as a more secure store of value.

This proposal reflects Russia’s broader strategy to adopt digital currencies in response to its economic challenges. By positioning Bitcoin as part of its national reserves, Russia could further integrate digital assets into its financial system, aligning with efforts to use crypto for cross-border trade.

However, the proposal would require substantial regulatory changes and cooperation between government institutions to move forward. Should Russia proceed, it could pave the way for other nations under sanctions to explore similar solutions.