• The head of the Russian Central Bank shared her views about CBDC.
  • The regulator considers the possibility but in a distant future.

The head of the Russian Central Bank is considering the issuance of the proprietary digital currency (Central Bank Digital Currency or CBDC), the head of the bank, Elvira Nabiullina, said recently, speaking at the student conference in Skolkovo.

“Indeed, the Central Bank Digital Currency cannot be launched instantly, however, many central banks, including Russian, have been studying this possibility,” she explained, cited by the local media outlet Tass.

Elaborating on the issue, Nabilullina added that such a project requires sustainable and secure technologies that will ensure stable and interruption-free functioning of the system. 

“The technologies should be mature, and distributed ledger technologies are no exception here,” she said/

The willingness of society to shift from cash to digital forms of money is another aspect to be considered. At this stage, the answer to this question is not evident as cash remains the preferred type of money in many countries, according to Nabiullina. 

“This is not because they are engaged in some illegal activities. People value their privacy and anonymity. Surely, the spread of non-anonymous digital currencies means that society should be ready for them.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin market update: BCH/USD sellers catalyze the breakdown under $220

The crypto market is bleeding across the board. Major cryptos like Bitcoin and Ethereum fall overnight while Bitcoin Cash engaged the reverse gear during Wednesday’s European session. From an opening price of $226.97, BCH ascended to an intraday high of $227.76. 

More Bitcoin Cash News

IOTA price analysis: IOT/USD loses ground, moves within the recent channel

IOTA, the 17th largest digital asset with the current market value of $745 million, has been moving in a tight range recently. The coin has lost 1.8% of its value on a day-to-day basis amid global sell-off on the cryptocurrency market.

More IOTA News

Ethereum price prediction: ETH/USD collapses below $170.00 – Confluence Detector

ETH/USD surrounded $170.00 support amid massive sell-off on the global cryptocurrency market. ETH, the second digital coin has lost over 4% of its value in recent 24 hours to trade at $167.00 by press time.

More Ethereum News

Facebook’s Libra could be regulated by the SEC: The US Congress draft bill reveals

Facebook is yet to find a regulatory breakthrough for its proposed digital project, Libra. However, if the United States Congress goes ahead with the proposal to draft a bill describing stablecoins, Libra could quickly fall under the wings of the Securities and Exchange Commission.

More Libra News


Bitcoin Weekly Forecast: Nothing to crow about

Bitcoin (BTC) attempted a recovery above $8,400 and resumed the decline into the end of the week.

Read the weekly forecast