March 28, 2024

The Central Bank called the conditions for the introduction of the digital ruble into the Russian economy

According to the head of the regulator Elvira Nabiullina, testing a pilot project of the national digitalcurrency may take more than a year.

The Bank of Russia will introduce a digitalthe form of the national currency when a number of conditions are met. This was announced by the chairman of the Central Bank Elvira Nabiullina at a meeting of the State Duma committee on the financial market, reports Finmarket. According to the head of the regulator, the Central Bank can test a prototype of the digital ruble for more than a year.

“This is the third form of money, and we will launch iton a large scale only when we make sure that all the conditions you are talking about are easily transferred from cash to digital, to non-cash, only one to one, and only under these conditions. It should be a real full-fledged ruble, no discount or anything else, ”Nabiullina explained.

The Chairman of the Central Bank also noted that now the regulator is not faced with the task of increasing the volume of payments using the digital ruble.

In early November, it became known that the Bank of Russiawill release a prototype of the digital ruble in early 2022. Over the next year, the regulator will test the digital ruble and after that will make the final decision on the issue of the national digital currency. In January 2022, the State Duma plans to start developing amendments to the legislation necessary to introduce the digital ruble into the country's economy.

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