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Bank of Russia sees potential for global payments in central banks’ digital currencies

The regulator is ready to discuss using of cryptocurrencies for international payments, but opposes its free circulation inside the country

Russian Central Bank Chief Elvira Nabiullina Russian State Duma/TASS

Russian Central Bank Chief Elvira Nabiullina

© Russian State Duma/TASS

MOSCOW, September 16. /TASS/. Russia’s Central Bank sees huge potential for international payments in digital currencies of central banks, the regulator’s Governor Elvira Nabiullina told a press conference following the meeting of the board of directors on the key rate on Friday.

"We believe there is also huge potential for international payments in digital currencies of central banks. Regarding digital financial assets, we have a respective legislation, and in terms of digital financial assets not suggested to be used as quasi-money, we believe the focus should be on simplifying the issuance of such digital financial assets," she explained.

The regulator is ready to discuss ways of using digital financial assets, including cryptocurrencies, for international payments, but opposes free circulation of cryptocurrencies inside the country, Nabiullina added.

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Central Bank of Russia Currency

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