Anatoly Aksakov, Chairman of the Financial Market Committee of the Russian State Duma, has reiterated that cryptocurrencies will not be recognized as legal tender in Russia. Instead, they will be limited to use as investment tools. Aksakov emphasized that all payments must be conducted in rubles, aligning with the central bank's stance against using cryptocurrencies for transactions. This statement comes as the Russian government continues efforts to regulate the cryptocurrency sector amid increasing adoption. The central bank has consistently advocated for a complete ban on cryptocurrencies, while the Ministry of Finance supports regulation and taxation of crypto exchanges and traders. Despite these efforts, legislative proposals to either ban or legalize the industry have stalled in the State Duma due to ongoing disagreements.