The use of the digital ruble in Russia will be voluntary, with citizens able to personally choose between various forms of currency, Russian Central Bank Governor Elvira Nabiullina said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 20th April, 2023) The use of the digital ruble in Russia will be voluntary, with citizens able to personally choose between various forms of currency, Russian Central Bank Governor Elvira Nabiullina said on Thursday.
"The most important thing we are going to talk about is the voluntariness. It (the use of the digital ruble) will be a personal choice. Some people, for example, don't use smartphones and are not going to use them. There will be other forms of currency available for them, to which they are accustomed, both cash and non-cash," Nabiullina told the lower chamber of the Russian parliament.
The prototype platform for the digital ruble was finished in December 2021. The Central Bank of Russia is planning to use the digital ruble as an additional form of Russia's national currency. It will be possible to use the digital ruble both for offline and online payments, and it will not have any expiration date. The regulator will grant access to the digital ruble to all economic agents, including individuals, businesses and the government.
