The State Duma of Russia has called the risks of the introduction of the digital ruble
The representatives of the State Duma Committee recommended that the Central Bank investigate this topic
![The State Duma of Russia has called the risks of the introduction of the digital ruble](https://storage.getblock.net/source/1/ILYAkbAE_8Cn-9Mvf-dbvwPloOt3fBh8.png)
17.11.2021 - 10:00
308
1 min
0
What’s new? The State Duma Committee on Financial Market has concluded that the digital ruble poses certain risks to the Russian financial sector. The department prepared the document in response to the Bank of Russia's basic “Monetary Policy Guidelines” for 2024. They contain, among other things, the prospects for the introduction of the digital ruble.
Link to the State Duma website
What is the Committee's view? According to the representatives of the department, the new virtual currency will increase competition in the banking sector. It will lead to lower profits for financial institutions and a stronger role for the government in the industry. Also, the introduction of the digital ruble carries information security risks.
The representatives of the Committee recommended the Bank of Russia to investigate these issues. Overall, the department acknowledged that the virtual currency model provides fast, easy, and secure payments.
What had happened before? As was mentioned earlier this week, the head of the Bank of Russia, Elvira Nabiullina, stated that the digital ruble will only be introduced if a number of conditions are met.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024