Bank of Russia Considers Issuing Digital Ruble, Starts Public Consultations
The Bank of Russia – the central bank of Russia – said it’s exploring the possibilities of issuing the central bank digital currency (CBDC) – the digital ruble.
- In an advisory report, the Russian central bank said it doesn’t see the digital ruble as a replacement for cash or non-cash rubles, but as a supplement.
- The central bank, saying it hasn’t yet decided to issue a CBDC, will hold a public consultation period on the matter, saying it considers it vital to discuss key aspects, advantages, possible risks, stages and timing of the project “with the financial sector, the expert community, as well as with all stakeholders.”
