Bank of Russia tests stablecoins and studies prospects for launching digital ruble

Chairman of the Central Bank Elvira Nabiullina spoke about testing stablecoins in the regulatory sandbox. and actively studying the issue of issuing a national digital currency.

She told Interfax that incurrently in the sandbox companies are testing tokens backed by real assets. Adding that the regulator does not consider the possibility of using them as a means of payment or a money surrogate.

However, Elvira Nabiullina said that the Central Bank continues to study the issue of issuingown digital currency for accurateunderstanding its impact on the financial system of the state and the prospects for its use not only as a method of settlements between citizens, but also between legal entities.

According to the head of the Central Bank, the launch of digitalThe ruble can have serious consequences, both for the Russian economy as a whole and for its individual entities, for example, commercial banks, so this issue should be approached with caution.

She also noted the fading interest in the topiccryptocurrencies over the past two years, but indicated the presence of a certain proportion of supporters of this asset class, some of whom are not interested in making money on speculation and pursue ideological goals. However, back in October, the Central Bank made it clear that it was categorically against the legalization of public cryptocurrencies in Russia.

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