The head of the Central Bank of the Russian Federation called the timing of the pilot ...

The head of the Central Bank of the Russian Federation called the timing of the pilot testing of the digital ruble
CONTENT

  • The Bank of Russia plans to start pilot testing of the digital ruble at the end of 2021

  • Public consultations on the issue of digital national currency will last until the end of 2020

  • The head of the Bank of Russia admitted that the country is undergoing “rapid” digitalization

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The Central Bank of the Russian Federation may begin pilot testing of the digital ruble at the end of 2021, said the head of the regulator Elvira Nabiullina

The head of the Central Bank of the Russian Federation called the timing of the pilot ...

The Bank of Russia may begin pilot testing of the digital ruble at the end of 2021. This was stated by the head of the Central Bank of the Russian Federation Elvira Nabiullina during a press conference.

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Also, the chairman of the Bank of Russia said that public consultations on the issue of the digital ruble will last until the end of this year..

“… If a decision is made on the expediency of launching the digital ruble, we will prepare a full-fledged concept, then there should be a mandatory, in our opinion, stage of piloting with a limited number of users, so that everything is worked out and we understand how it works. We consider such piloting to be possible sometime by the end of next year, “said the head of the regulator..

According to Nabiullina, the project of the digital national currency “organically fits” into the development of the country’s digital economy. In her opinion, “digital transformation is under way” in the country:

The head of the Central Bank of the Russian Federation called the timing of the pilot ...

“We see how rapidly this is developing in our country. <…> The digital ruble is a further step in this direction, “she added..

As a reminder, earlier the Bank of Russia began public consultations on the issue of the digital ruble. The decision to study in more detail the potential issue of digital currency is associated with the formation of a request from society “to increase the speed, convenience and safety” of payments using modern technologies, the central bank of the country notes..

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Nevertheless, so far, the full legalization of the cryptocurrency market, apparently, is not included in the plans of the regulator, which previously limited unqualified participants in the financial market to investments in cryptocurrencies in the amount of up to 600 thousand rubles per year. At the same time, Dmitry Peskov, Special Representative of the President of the Russian Federation for Digital and Technological Development, believes that Russia was several years late for the race to digitize the economy..

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