Bank of Russia: the digital ruble will replace ‘dirty’ cash

In 20-30 years cash will become marginal and will be replaced by the digital ruble. This was stated at the Saint Petersburg International Economic Forum by the Bank of Russia’s First Deputy Chairman Sergey Shvetsov.

He noted that the pandemic accelerated the move away from cash.

‘Paper, after all, is an infection. They say— ‘dirty money’; well, we’ve also got contagious ones. Probably, this is a fading technology,’ Shvetsov is quoted by TASS.

The head of Russia’s Federal Treasury, Roman Artyukhin, did not rule out in an interview with Izvestia, that taxes could be paid with the digital ruble.

As reported, the head of the Bank of Russia, Elvira Nabiullina, stated that as the economy moves online central bank digital currencies will be the future of financial systems.

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