Russia May Launch The Digital Ruble in 2023

Russia may launch the digital ruble in 2023. Deputy Governor Alexei Zabotkin explained the details.

Deputy Governor Alexei Zabotkin announced on Thursday that the Central Bank of Russia will limit transactions with digital rubles to avoid the sudden effects that may occur with the use of the digital ruble, which is aimed to be launched in 2023. Russia has announced that it is preparing a digital ruble that will continue to exist alongside the existing cash and electronic ruble. The digital ruble is expected to facilitate payments between individuals and companies and increase the use of their own currencies against sanctions from Western countries. According to Zabotkin's statements, the emission values ​​to nature caused by the crypto ruble will be at levels similar to those of the cash ruble. Zabotkin continued his speech as follows: "It will be possible to impose restrictions on the transition from electronic ruble to digital ruble form from time to time. When the central bank launches the digital ruble, it will always stand by to intervene in case of any liquidity shortage." Russia is among the countries that are accelerating the development of a central bank digital currency (CBDC) to counter the threats posed by cryptocurrencies and to modernize their financial systems.   Source: Limenya