“We in the State Duma really hope that the digital currencies of the central banks of the states will be actively used in foreign economic turnover. Accordingly, our digital ruble can be used for international payments,” Aksakov said.
It’s good when the systems of state digital currencies are interconnected and transactions in different CBDCs go through them freely, the head of the committee, which is responsible in the Duma for considering a package of bills on cryptocurrencies, is sure.
“System compatibility options can be considered. For example, Chinese and ours, in order to ensure the conversion of two digital currencies and their use in the economic turnover of both countries,” Aksakov reasoned.
A high-ranking parliamentarian has already stated that one of the uses of the digital ruble will be international settlements with China.
Last Wednesday, July 11, the State Duma immediately in the second and final third reading adopted a bill on the introduction of the digital ruble into the banking system. The Central Bank of the Russian Federation, which is assigned the status of the operator of the CBDC platform, will have the right to refuse any commercial bank to conduct a transaction.
The head of the Russian Central Bank, Elvira Nabiullina, said that the widespread use of the state digital currency will become possible from the beginning of 2025.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
