Copy link
Increase text size
Decrease text size
Link copied

Russian Central Bank considers CBDC issuance, but not "right away"

Tue, 18 Jun 2019, 03:26 am UTC

Russian central bank’s chairman Elvira Nabiullina said the country is considering the issuance of its central bank digital currency (CBDC), but it will not be anytime soon, local media news outlet TASS reported.

Speaking at a student conference in Skolkovo, Nabiullina noted CBDC cannot be realized right away, but the Russian central bank is looking into the possibility. She also stressed the need to ensure the reliability of distributed ledger technology (DLT) before implementing this project.

If we are talking about the national currency, which works as a whole in the country, that is, these are not private assets, of course, this requires that the technology allows ensuring reliability and continuity. Technologies must be mature, including technologies of distributed registries,” she said.

In addition, Nabiullina also challenged the public’s readiness to go cash-free, noting that while some countries are virtually cashless, high demand for cash is still seen in many nations.

It’s not so much because people want to perform some dubious operations,” she explained. “People often value their privacy, anonymity. Of course, the spread of non-anonymous Digital currencies are in some sense the readiness of society.”

She also advised CBDC researchers to further evaluate the benefits of issuing CBDC and compare them with the advantages of other technologies, including fast payments.

As previously reported, Russia’s parliament, the State of Duma, is also considering imposing administrative penalties for cryptocurrency miners who are using open blockchains, revealing that operations related to cryptocurrencies that are not covered by the Russian laws will be considered as illegal.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,368.35 (+0.51%)
  • Ethereum (ETH) $161.69 (+1.16%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $313.21 (+1.72%)
  • Bitcoin SV (BSV) $263.25 (+2.25%)
  • Bitcoin (BTC) $8,368.35 (+0.51%)
Jan 24, 2020 (Friday)
12:24
Ripple CEO Brad Garlinghouse hints at the possibility of IPO
11:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:50
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:37
Japan ruling party lawmakers to propose digital yen in February: Report
11:00
Hackers becoming more sophisticated as crypto exchanges bolster security measures: Chainalysis
10:24
Crypto Technicals: XRP/USD slips below 21-EMA, more weakness to follow
10:23
Tether launches new stablecoin backed by physical gold
09:49
Crypto exchange ErisX partners with Etale to offer new trading features
09:23
World Economic Forum launches blockchain-based supply chain traceability platform
08:17
Crypto Technicals: LTC/USD holds above 51 mark, finds strong support at daily cloud
07:36
Liechtenstein's Financial Market Authority approves ethereum-based real estate tokenized fund
06:57
Greece to extradite alleged BTC-e operator Alexander Vinnik to France after supreme court ruling
05:26
Agribusiness blockchain initiative Covantis selects ConsenSys as technology partner
04:44
Crypto exchange Binance invests in blockchain startup Numbers
04:24
Crypto Technicals: ETH/USD holds above 21-EMA and cloud support, further weakness on charts
04:23
Indian IT firm Mphasis to develop blockchain privacy-enhancing tech solutions with QEDIT
04:04
Crypto Technicals: BTC/USD extends weakness, eyes next major support at 110-EMA (8134)
Jan 23, 2020 (Thursday)
13:26
Amun lists inverse bitcoin ETP on SIX Swiss Exchange
12:32
World Economic Forum creates framework to help central banks design and deploy CBDC
11:52
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft