The Central Bank of Russia opposes the use of Bitcoin as a payment means for settlements within the country, RIA Novosti writes with reference to the Chairman of the Bank Elvira Nabiullin. The head of the Central Bank added that in general the organization does not see harm in digital currencies except when they are “used for questionable operations.”
Nabiullina emphasized that the authorities should not support the cryptocurrency market, the TASS reports. “To cryptocompany as a private currency, which claim the role of money, we are treated extremely negative. These cryptocurrencies are anonymous, no one answers them, and, in our opinion, the responsible state should not stimulate their distribution and displacement from payments,” stressed Head of the Central Bank.
However, Nabiullina added that Russia’s residents need to give an alternative to cryptocurrencies, and at the moment the Bank of Russia is developing such digital projects. “I have already spoken about the digital ruble – in our opinion, it should develop,” she said.
In September, the Chairman of the Central Bank listed the advantages of the digital ruble. According to her, the holders of this currency will have access to the electronic wallet, regardless of the bank, where the account is open. The Central Bank plans to develop a digital ruble so that the transactions with it cost cheaply. Nabiullina noted that tariffs for translations will be no higher than in the system of fast payments (SBP).
In addition, the digital ruble will receive a separate legal regulation. In November, the Deputy Director of the Development Department of the Digital Economics of the Ministry of Economic Development Department Alexei Minaev said that the necessary amendments to legislation would be made according to the experiment on the implementation of this currency, which will be held in 2022.