Cryptocurrency is rapidly evolving, with countries even creating their own digital currencies. The concept of central bank-backed cryptocurrencies, which gained traction around 2019, has turned into a reality in various nations.
Russia is also moving forward to become a part of this trend. A survey by BankInform.ru, a major banking news website in Russia, sheds light on Russian opinions about this matter.
The survey shows that a considerable number of participants, about 32%, don’t have confidence in Russia’s central bank issuing the Digital Ruble. They view it as potentially fraudulent and suggest approaching it carefully.
Out of the participants, 21% expressed disinterest in the topic, while 13% indicated they’re open to giving Russia’s own cryptocurrency a try. Despite the majority of Russians showing concern and skepticism, the project is advancing.
The Digital Ruble, introduced in 2020, gained traction with the presentation of the plan two years later. This draft, recently approved by the Duma, is now heading to the main assembly. This process is expected to take at least two more years, and the ongoing developments are certainly intriguing.
Russia’s Project That Gets Noticed Because of Restrictions
In July, the Ministry of Digital Development announced that the use of this new cryptocurrency would happen nationwide from 2025 to 2027. This official approval marked a shift to digital currency. While it’s officially stated that the Digital Ruble isn’t a regular cryptocurrency or stablecoin, many view it as one. There’s an expectation that Russia will implement some form of internal regulations.
China’s own digital currency also has similar strict features, making it likely that Russia’s version will be related in a similar way. Despite this, it’s believed that the arrival of digital currencies will lead to greater acceptance of cryptocurrencies.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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