DOES RUSSIA NEED A DIGITAL RUBLE?
Anatoly Aksakov, Chairman of the Committee on Financial Markets of the State Duma of the Federal Assembly of the Russian Federation
In October 2020, the Central Bank of Russia issued a report titled “The Digital Ruble”, describing various options for issuing the digital ruble, its role and place in the modern monetary system, risks and problems and what the Bank of Russia believes should be considered when introducing it. The session will present the key conclusions of the report discussion, the pros and cons of the digital ruble.
Issues for discussion:
• Potential role of the digital ruble in Russia’s monetary circulation
• The Digital Ruble and the Monetary Policy – What Will Change?
• What will the Russian people, business and society gain from the issuance of the digital ruble?
• How will consumer rights be protected when using the digital ruble?
• How will the role of traditional financial intermediaries change with the introduction of the digital ruble?