The digital ruble will put an end to the Russian economy

The Russian Association of Cryptocurrency and Blockchain (RACIB) believes that the proposals proposed by the Central Bank of the Russian Federationdigital ruble models “put an end to maintaining a competitive environment”. Kommersant writes about this, referring to the letter from RACIB to the head of the Central Bank Elvira Nabiullina.

In particular, the Association believes that the Central Bank of the Russian Federationreturns the economy to Soviet times, “excluding commercial banks, payment systems and other market participants from the process.” According to Vladislav Martynov, a member of the supervisory board of RACIB, the digital currency models being considered by the Central Bank make financial institutions ordinary intermediaries without the ability to use digital rubles as a passive base.

Martynov believes that such an approach to the digitization of the economy will lead to a "serious outflow of liquidity from banks."

On the guard of banks

In one of the models of the digital ruble described by the Central Bank, it is proposed to give banks services to open digital wallets and make payments on them on the basis of the Central Bank platform.In fact, the financial regulator will regulate the wallets.

The Bank of Russia confirmed the regulator's intention to keep all digital rubles exclusively in the regulator's accounts with limited access for banks.

“Electronic wallets will be conducted on the platformof the digital ruble, the operator of which will be the Bank of Russia, but it will be banks and financial intermediaries who will serve clients, interact with them, maintain accounts and carry out transactions with electronic wallets on behalf of clients. "," the Central Bank said.

Martynov claims that storing all digital rubles exclusively on the Central Bank platform will result incountry "to the situation that was in the Soviet Union, when the enterprises were opened accounts in the State Bank."

"The losses on the balances will increase as the digital rubles are emitted, as there will beto wash the same equivalent of cash and non-cash rubles", - said the chairman of the NSFM Andrey Emelin.

Controlling

Let us recall that earlier the Bank of Russia refused to commercialbanks in issuing digital rubles. Deputy Chairman of the Central Bank Alexey Zabotkin stated that the Central Bank of the Russian Federation will not share obligations to issue a digital ruble with other financial institutions.

The regulator also rejected the idea of ​​Sberbankclassify all non-cash payments as digital currency. Then the first deputy chairman of the Central Bank of the Russian Federation, Olga Skorobogatova, suggested that the regulator and Sberbank most likely perceive the concept of digital currency differently.

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