Russian central bank considering issuing digital rouble
- It said the new digital form of the national currency would require a new payment infrastructure which would in the end make Russia's payment system more robust.
MOSCOW: Russia's central bank said on Tuesday it was considering issuing a digital rouble on top of existing cash and non-cash roubles to facilitate payments for individuals and businesses.
It said the new digital form of the national currency would require a new payment infrastructure which would in the end make Russia's payment system more robust.
"The digital rouble, if implemented, will combine all qualities and advantages of cash and non-cash money," the central bank said in a report paving the way for talks about the issue.
It said it was studying possibilities and prospects for the digital rouble, but that it was too early to give an accurate timeframe for the project's launch.
Russia for years spoke against cryptocurrencies, saying they could be used in money laundering or to finance terrorism.
It eventually gave them legal status this year but banned them from being used as a means of payment.
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