The Bank of Russia, together with market participants, began testing the digital ruble platform, Interfax reports.

The digital ruble is an additional form of the Russian national currency that will be issued by the Bank of Russia, and also combines the properties of cash and non-cash rubles. At the same time, like cash, digital rubles can be used offline, without access to the Internet.

The prototype of the digital ruble platform was created in December 2021. Twelve Russian banks will take part in testing.

Earlier, the Russian government approved the concept of regulating the circulation of digital currencies.

It is noted that the goal of regulation is “integrating the mechanism for the circulation of digital currencies into the financial system and ensuring control over cash flows in the circuit of credit institutions.” In addition, market participants will be required to inform citizens about the increased risks associated with digital currencies.

bbabo.Net