Russia plans to use digital rubles in cross-border settlements with China

[Russia plans to use digital rubles in cross-border settlements with China] Golden Finance News, a senior Russian lawmaker said on Monday that after launching the digital ruble early next year, Russia plans to use the currency in mutual settlements with China. Anatoly Aksakov, Chairman of the Russian State Duma Financial Market Committee, said in an interview with local media that the topic of digital financial assets, digital rubles and cryptocurrencies is currently intensifying in society because Western countries are imposing sanctions and causing problems for bank transfers, including in international settlement.

The next step for the digital ruble will be mutual settlements with China, he added. (Reuters)

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The regulator continues to study the possibility of issuing its own digital currency. Nabiullina pointed out that before the final product is shown to the public, it is their responsibility to know exactly what it can do and how it will benefit participants. She believes that the issuance of such a digital ruble could have a significant impact on the structure of financial markets. The issue of digital currencies should be approached with great caution, while studying the negative and positive experiences of other countries.

She also said that interest in cryptocurrencies in Russia has declined compared to two years ago. (Interfax)[2019/12/26]

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