Economic processes in the domestic market will soon completely switch to blockchain. About this in an interviewDelovoe publication.TV was reported by the Chairman of the State Duma Committee on the Financial Market, Anatoly Aksakov. As Aksakov states, the digital ruble will become the catalyst that will lead to the complete digitalization of the economy:
“I think that the digital ruble is the future of ourmonetary circulation. We are approaching a stage where many economic turnovers will take place on the blockchain. The digital ruble is a certain stage in the development of monetary circulation ”.
Despite the rapid transition of the economy to digital,Aksakov is skeptical about the future of cryptocurrencies, since "private currencies have a limited future, if any." The Chairman of the State Duma Committee on the Financial Market believes that states will not allow these currencies to be used to the detriment of financial systems.
However, the introduction of blockchain does not yet meanmaximum transparency of all bureaucratic processes and complete trust. Previously, for example, in Ukraine, the improvement of cadastral registration using blockchain was called “fake,” and the source code of the Russian blockchain voting system raised more questions than answers.
Illegal market
According to Aksakov, the state will soontime does not plan to introduce any restrictions in relation to cryptocurrencies. The only restriction on the circulation of cryptocurrencies, as Aksakov noted, remains regarding the use of cryptocurrencies as a means of payment.
"We do not plan to legalize exchange offices, exchanges for the acquisition of [crypto] currencies in the Russian Federation yet."- he emphasized.
Despite his skepticism towards cryptocurrencies, Aksakov believes that Russian banks will be able to avoid isolation in the international arena if the digital asset market is properly regulated.
It is expected that already in the autumn session in the State Duma a bill will be presented that will spell out the main points for regulating the circulation of cryptocurrency assets.
Not everything is so rosy
However, not everything is on the domestic marketsee benefits in the accelerated pace of unipolar digitalization of the economy. According to the President of the Russian Association of Cryptocurrency and Blockchain (RACIB) Yuri Pripachkin, the habit of regulation “through prohibitory measures or criminal liability will lead to nothing.” Thus, the head of RACIB commented on the restrictive initiatives of the Ministry of Finance of the Russian Federation and the Central Bank to develop the mining industry.
Now Pripachkin does not see the digital rublenothing but a “pointless action”, since the digitalization of the domestic economy requires the implementation of the entire ecosystem, including the legalization of the conversion of the digital ruble into cryptocurrencies and interaction with other virtual currencies.
Let us recall that earlier Russian Prime Minister Mikhail Mishustin called on the state to keep up with global trends and become a digital platform “in the good sense of the word.”
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