Russian Central Bank Deputy: National Digital Currencies Are the Future

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In remarks delivered at the St. Petersburg International Economic Forum recently, Russian Central Bank Deputy Governor Olga Skorobogatova suggested that the world will eventually see nations create their own digital currencies. She also seemed to confirm that the tests required to prove the viability of such currencies had already been completed using platforms like the Hyperledger and Masterchain.

Skorobogatova was quoted by Russian news outlet RT:

"Regulators of all countries have come to the conclusion that it is necessary to do a national virtual currency. This is the future. Each country will decide the issue of a specific time and maturity independently."

Her comments may leave observers with more questions than answers, given Russia’s turbulent relationship with digital currencies. For several years, the country’s official position on Bitcoin and other cryptocurrencies has sometimes seemed as uncertain as the weather - with officials in the government often expressing views that seem to change from week to week.

Recent months have seen more consistent positions taken by those in authority. After earlier threats to ban Bitcoin and even imprison those who use it, the government has now seemed to move toward grudging acceptance of digital currency. Late last month, the nation’s central bank indicated that it has plans to draft legislation that would formally recognize digital currencies as digital assets, paving the way for some formal system of regulation and taxation.

The views expressed by the authors on this site do not necessarily represent the views of DCEBrief or the management team.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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