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Chairman of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Shokhin believes that cryptocurrencies undermine the sovereignty of the Central Bank in issuing money.
Alexander Shokhin said that the digital ruble is neededrun as soon as possible. He stressed that "we must not fall behind countries that care about national sovereignty, such as China." According to him, the government and the Central Bank should submit a report on the digital ruble to the president by December 19.
In addition, the chairman of the RSPP noted that the cryptocurrency challenges the centralization of the issue of fiat currencies:
“The issue of the national currency is a signstatehood and sovereignty of the state, therefore the Central Bank has a defensive position along this line. And in principle, control is reduced, there is the possibility of withdrawing abroad, there is the possibility of money laundering, and so on. All these risks exist.
According to Shokhin, if the law on miningcryptocurrency was adopted in a timely manner, then the economic pressure from Western countries would be insignificant: “That is, we did not use what could be used in terms of anti-sanction technologies through crypto.”
In September, Deputy Chairman of the Bank of Russia Alexei Zabotkin said that at the first stage of the integration of the digital ruble, only residents of the Russian Federation will be able to open electronic wallets.