Russian Central Bank to begin trials of digital rubles next year

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Russia will test the digital ruble, prepared as a digital equivalent of the national currency ruble, next year. Tests of digital national currency have begun in China, Japan and a few countries. 

According to Bloomberg Terminal, the President of the Central Bank of Russia has confirmed by Elvira Nabiullina that trials of the digital Russian currency ruble will begin in 2022  . Nabiullina had previously announced its plan to test a CBDC in April. 

Russia is added to the list of countries that prepare themselves for digital currencies and keep up with technology. Russia, which will start trials like China, which is already testing the RMB, will take a big step towards the transition to digital money. As far as is known , studies had started in countries such as China, Switzerland, France, the United Kingdom and Japan .

Recently, a team was established in England to develop its digital currency called “Britcoin”. Such developments are of great importance in terms of the general acceptance of cryptocurrencies , if such initiatives are made by the states, the attitude of people towards these assets positively. 

In addition, it should be noted that the Russian Government is considering granting the necessary permissions to use Bitcoin (BTC) as a contractual payment instrument. Although Russia seems to have a positive view on cryptocurrencies, we do not know what policy it will follow in the future. 

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