The Central Bank of Russia plans to begin the comprehensive implementation of the digital ruble two years from now, according to a paper detailing its monetary policy priorities for the 2023 – 2025 period. As the development of the state-issued digital currency continues, the monetary authority intends to gradually connect various financial institutions to the platform.
While the full-scale implementation of the digital ruble will begin in two years’ time, some of its features, such as the offline mode, as well as the connecting of non-banking financial organizations and exchanges, are expected in 2025, the Russian crypto news outlet Bits.media reported, quoting the bank.
Critics have warned that the CBDC can potentially threaten the stability of the banking system but the Bank of Russia does not expect a large-scale outflow of funds from bank deposits as traditional financial institutions attract capital by offering interest payments and bonus programs. For Russian banks, the digital ruble should serve as “an additional incentive to increase the attractiveness of bank accounts,” the CBR added.
The latest timetable for the digital ruble comes after an earlier official statement which indicated that the CBR isthe project’s schedule. In June, Deputy Governor Olga Skorobogatova announced that a roadmap for the full implementation of the new form of the national currency is expected by the end of 2023.
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Uhhg, welcome to Cryptospace... 🤨
More surveillance and more control for Putin.
Who would use it? Calm down already. There are USDT, BTC and plenty of other crypto, people use it and are happy
Terrorists state should no be into the worldwide currency system.
No surprise there. China has already done this
Just another shitcoin it will be
LOL people are exploiting uniswap! .
🚀 Thankss a millon
Ain’t youu surprised to see none is talkingg about this?