Russian Central Bank is thinking about creating own cryptocurrency

Much depends on the maturity of technology in the country, which will ensure the reliability of electronic money, Nabiullina explained.

The head of the Bank of Russia Elvira Nabiullina reported that the regulator is exploring the possibility of launching its own cryptocurrency. However, according to her, it is not a question of the near future.

  • I agree that the central bank digital currency cannot be implemented immediately, but nevertheless many central banks, including the Russian Central Bank, are exploring this possibility, – said the head of the regulator at the student conference “Russia – EU” in Skolkovo.

Nabiullina explained that much depends on the maturity of technologies in the whole country, which will ensure the reliability of electronic currency. In particular, we are talking about the technology of distributed registries. Also, the head of the Central Bank announced the need for the transition to digital currencies to consider whether the company is ready to give up cash.

financial institution

Earlier it was reported that the cost of the most popular cryptocurrency – Bitcoin – exceeded seven thousand dollars for the first time since October 2018.

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