俄罗斯国家财富基金（NWF）将不包括比特币或其他加密货币

2025年3月5日，俄罗斯财政部长弗拉基米尔·科洛切夫（Vladimir Kolychev）明确表示，俄罗斯没有计划增加比特币或其他加密货币

March 5, 2025- Russian Vice Minister of Finance Vladimir Kolychev has ruled out any possibility of adding Bitcoin or other cryptocurrency to the National Wealth Fund (NWF).

2025年3月5日 - 俄罗斯财政部长弗拉基米尔·科洛切夫（Vladimir Kolychev）排除了将比特币或其他加密货币添加到国家财富基金（NWF）的可能性。

So far, Russia has accepted cryptocurrencies and used them as a practical financial instrument in international trade. But it does not consider them part of the national reserves and remains cautious about their long-term strategic role.

到目前为止，俄罗斯已经接受了加密货币，并将其用作国际贸易中的实际金融工具。但这并不认为它们是国家储备的一部分，并且对其长期战略作用保持谨慎。

NWF Holdings: mainly yuan and gold, not digital assets

NWF持有：主要是人民币和黄金，而不是数字资产

According to Interfax, Kolychev confirmed that the Ministry of Finance has no plans to change the current investment structure of the NWF. Digital assets will not be included, largely due to their high volatility.

根据Interfax的说法，Kolychev确认财政部没有计划改变NWF当前的投资结构。数字资产将不包括在很大程度上是由于它们的高波动性。

Asked if there was any possibility to adjust the investment structure of the NWF, Kolychev replied in the negative.

当被问及是否有可能调整NWF的投资结构时，Kolychev对负面回答。

“No. Only gold and yuan,” he stated.

“不。只有黄金和人民币。”他说。

As Interfax notes, the fund can hold up to 60% in yuan and a maximum of 40% in gold. Kolychev also said he hadn't heard of any discussions about setting up a strategic cryptocurrency reserve by Russia-an idea presented by the Trump administration in the US.

正如Interfax所指出的那样，该基金最多可以持有60％的人民币和最多40％的黄金。 Kolychev还说，他没有听说过关于建立俄罗斯战略加密货币保护区的任何讨论，这是美国特朗普政府在美国提出的一个想法。

Moreover, he highlighted that high liquidity and low risk are crucial factors in determining the assets in the NWF. Digital assets do not meet these criteria due to their extreme volatility.

此外，他强调说，高流动性和低风险是确定NWF资产的关键因素。由于它们的极端波动，数字资产不符合这些标准。

“From the perspective of a sovereign budget reserve, it is crucial that the assets of the fund are very liquid and can be sold quickly without a significant loss in value. We do not want to end up in a situation where we have to sell an asset for half the price we have invested. Digital assets are very volatile, so we never considered them for the NWF and have no plans to do that in the future,” Kolychev explained.

“从主权预算储备的角度来看，至关重要的是，该基金的资产非常流动，可以迅速出售而不会造成重大价值损失。我们不想最终要以我们投资的价格一半出售资产的情况。数字资产非常波动，因此我们从未考虑过NWF，也没有计划在将来这样做。” Kolychev解释说。

Kolychev noted that the NWF could consider investing in less liquid and more volatile assets once it reaches 7–10% of GDP. However, he said the fund is still far from that level. On February 1, the volume of the National Wealth Fund reached 11.97 trillion Rubel ($ 122.09 billion), which is equal to 5.6% of the expected GDP for 2025, according to a report from the Russian Ministry of Finance.

Kolychev指出，NWF一旦达到GDP的7-10％，NWF可以考虑投资较少的液体和更多的挥发性资产。但是，他说，该基金还远非该水平。根据俄罗斯财政部的一份报告，2月1日，国民财富基金的数量达到了11.97万亿美元（1,220.9亿美元），相当于俄罗斯财政部的一份报告。

Meanwhile, Russia has taken legal action to regulate cryptocurrency. At the end of November 2024, the Russian Parliament adopted a law that recognizes Bitcoin and other cryptocurrencies as assets. The law imposes a personal income tax of 13–15% on crypto transactions and awaits President Vladimir Putin’s signature to come into effect.

同时，俄罗斯已采取法律行动来规范加密货币。在2024年11月底，俄罗斯议会通过了一项承认比特币和其他加密货币作为资产的法律。该法律对加密交易征收13-15％的个人所得税，并等待总统弗拉基米尔·普京的签名生效。

One report from the Bank of Russia in December 2024 stated that Bitcoin accounted for 69% of the total cryptocurrency possession of Russians on exchanges in September 2024.

2024年12月，俄罗斯银行的一份报告说，比特币占2024年9月在交易所中俄罗斯人总拥有俄罗斯人总拥有的69％。

Until now, Russia has adopted a pragmatic approach to Bitcoin, using it in international transactions to circumvent sanctions, but it is not included in national reserves.

到目前为止，俄罗斯在国际交易中采用了务实的比特币方法来规避制裁，但不包括在国家储备中。