The Central Bank of Russia has approved the first group for testing the digital ruble.
The 12 largest banks of the Russian Federation will become an experimental testing ground for testing technologies for issuing, transferring and storing digital national currency. Among them are VTB, Sberbank, Tinkoff, Gazprombank, and others.
The implementation of the project involves several stages. Work on the digital platform should be completed in December of this year. The second phase will begin next year with testing the platform and drawing up a roadmap. The third stage involves the development of legislation for the implementation of a digital national currency.
Digital currency will be issued in addition to existing cash and non-cash forms of money. The main regulator and issuer will be the Central Bank of the Russian Federation.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
It's time to create a continental African cryptocurrency
This week, African leaders met in Kigali, the capital of Rwanda, which resulted in the creation of the Continental Free Trade Area (CFTA), which some say could be the largest in the world. The 55 member states of the African Union have a combined gross product of $2.5 trillion.
The Bank of Korea is preparing a project to issue state cryptocurrency
The Bank of Korea (BOK) plans to issue guidance on cryptocurrency transactions, including a plan to issue a central bank digital currency (CBDC) in the first half of this year.
