The Bank of Russia has tested three cryptocurrency services

As part of the regulatory sandbox project, systems for collective mining, payments andinvestments using digital assets.

In its 2020 report, the Bank of Russia said,that I tested three cryptocurrency services last year. It follows from the document that the Central Bank checked the work of a service for collective mining of digital currencies, a cryptocurrency payment system, as well as a service for investing in digital assets. The work took place as part of the regulatory sandbox project, which was launched by the Central Bank in 2018.

The regulator did not provide information on the test results. In case of a positive outcome, a "road map" will be developed for the implementation of services in the legal field.

Formerly Deputy Chairman of the Bank of RussiaAlexey Zabotkin assumed that the digital ruble developed by the Bank of Russia could be used to pay taxes. According to him, taxes can be paid only in non-cash form, so the digital ruble will be able to perform this function as well, which will make it a more universal means of payment than cash.

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