The Bank of Russia is testing stablecoins and examining the prospects for launching the digital ruble

The Bank of Russia will assess the prospects for issuing a digital ruble

The Bank of Russia is testing stablecoins and examining the prospects for launching the digital ruble

Chairman of the Central Bank Elvira Nabiullina spoke about testing stablecoins in the regulatory «sandbox» and actively studying the issue of issuing a national digital currency.

She reported «Interfax», what in present time in «sandbox» companies are testing tokens backed by real assets. Adding that the regulator does not consider the possibility of their use as a means of payment or a monetary surrogate.

The Bank of Russia is testing stablecoins and examining the prospects for launching the digital ruble

Nevertheless, Elvira Nabiullina said that the Central Bank continues to study the issue of issuing its own digital currency for an accurate understanding of its impact on the financial system of the state and the prospects for using not only as a way settlements between citizens, but also between legal entities.

According to the head of the Central Bank, the launch of the digital ruble can have serious consequences, both for the Russian economy as a whole, and for its individual subjects, for example, commercial banks, so this issue should be approached with caution..

She also noted the fading of interest in the topic of cryptocurrencies over the past two years, but pointed to the presence of a certain proportion of supporters of this class of assets, some of whom are not interested in making money on speculation and pursuing ideological goals. However, back in October, the Central Bank made it clear that it was categorically against legalization of public cryptocurrencies in Russia.

text: Ivan Malichenko, photo: TASS

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