The Central Bank of Russia has warned that cryptoassets have the potential to infect the country's economy. The bank's First Deputy Chairwoman, Ksenia Yudaeva, stated that while it was necessary for Russian firms to use cryptocurrencies in cross-border settlements, it was important to ensure that they were restricted to the fringes of economic activity. The bank is concerned that the creation of trading networks using crypto could lead to the spread of cryptocurrencies throughout the Russian financial system. Despite this, many Russian firms are already using crypto in trade deals, believing that they are operating within the law.