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Eastern Economic Forum

Digital currencies of Russia and China will be considered as settlement instrument

According to Head of the State Duma Committee on Financial Markets Anatoly Aksakov, creating a separate secure digital settlement channel will contribute to the smooth implementation of cross-border payments

MOSCOW, September 3. /TASS/. Digital currencies of Russia and China will be considered as one of the settlement instruments at the bilateral level, Head of the State Duma Committee on Financial Markets Anatoly Aksakov said in an interview with TASS.

"We are following the experience of our colleagues from China in introducing the digital yuan with great interest, including studying proposals for its use in foreign trade. Of course, digital currencies of central banks will be considered as one of the settlement instruments at the bilateral level, as soon as the necessary technological and regulatory conditions for this are created," Aksakov said at of the start of the Eastern Economic Forum (EEF).

According to him, creating a separate secure digital settlement channel will contribute to the smooth implementation of cross-border payments.

The EEF is one of the largest international conferences in Russia. It has been held in the Primorsky Region’s Russky Island in Vladivostok since 2015. The Forum is the initiative of Russian President Vladimir Putin, who decreed that the event be held annually. The forum's objectives and goals include promoting the accelerated growth of Russia’s Far East region; assessing its potential for exports; expanding international cooperation in the Asia-Pacific Region; showcasing the investment appeal of the region, its steadily progressing territories, and the Vladivostok free port.

The Roscongress Foundation has served as the Forum’s organizer since 2016. TASS is the general information partner of the EEF.

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Eastern Economic Forum

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