Russian parliamentarians have cautioned against risks associated with the introduction of a digital ruble. Among them are the likely increase of competition pressure on banks and new challenges that may arise in the field of information security.
Financial Market Committee Sees Threats in Digital Ruble Project
Russia’s digital fiat, currently under development, brings certain risks that lawmakers want the central bank to carefully examine. The implementation of the digital ruble may pose a challenge for the country’s financial sector, members of the important Financial Market Committee at the State Duma, the lower house of parliament, have noted after deliberations on the project.
The conclusion comes in response to the “Main Directions of Monetary Policy Until 2024” presented by the Central Bank of Russia (CBR), crypto news outlet Forklog reported this week. The document covers the prospects for the launch of a national digital…