The Bank of Russia is studying the possibility of issuing its own cryptocurrency

The Central Bank of the Russian Federation is considering launching its own digital currency, the head of the central bank Elvira Nabiullina said. Kommersant writes about this.

“The Central Bank digital currency cannot be implemented immediately, but, nevertheless, many central banks, including the Russian Central Bank, are exploring this possibility,” said Nabiullina.

At the same time, she stressed that before the introduction of a new instrument, both the maturity of the technology itself and the readiness of society are necessary.

In addition, the head of the Central Bank of the Russian Federation noted that it is necessary to evaluate the advantages of the central bank cryptocurrency over other technologies, for example, over the fast payment system.

Recall that the regulator began to study the possibility of issuing its own cryptocurrency, it became known earlier. For example, in April, the Bank of Russia presented a report in which it assessed the advantages and disadvantages of digital currencies whose issuers are central banks.

It is noteworthy that before that Elvira Nabiullina had spoken quite critically with regard to the cryptocurrency industry and more recently stated that the Bank of Russia opposes the inclusion of digital currencies in the monetary system.

Subscribe to the BlockchainJournal news in Telegram: BlockchainJournal Live – the entire news feed, BlockchainJournal – the most important news and polls.