Russia's Central Bank Postpones CBDC Testing For a Year
The Russian regulator said that CBDC will be tested in 2022. It was previously reported that testing is expected in 2021
According to the head of the bank, a list of banks and other financial organisations that will take part in the test of the digital currency has already been defined.
Russia has long talked about the need to launch a digital ruble. Numerous studies and reports demonstrate the interest of both public and private institutions. However, the situation of cryptocurrencies in the country is ambivalent.
Against the background of talk about CBDC from 2019, Russia actively regulates the cryptosphere. Digital currencies do not have the status of a means of payment. And all the same central bank leaders emphasize that the created CBDC will not be a substitute for the fiat ruble.
Russia will not follow the path of China, which wants to digitise the economy as quickly as possible. The regulator says that countries developing CBDC at a rapid pace are now making a lot of mistakes. Therefore, Russia does not intend to hurry.