Prosecutor-General’s Office backs introduction of the digital ruble to decriminalise online payments.

The digital ruble will help decriminalise online settlements. RIA Novosti reports citing a statement by the Prosecutor General of Russia, Igor Krasnov.

The office said it fully supports introducing the digital ruble as an additional form of money.

“The main advantage of the central bank digital currency lies in a substantial increase in the transparency of settlements, and consequently in reducing the risks of corruption and money laundering,” Krasnov noted.

The Prosecutor General added that modern technologies themselves offer new possibilities for tackling existing criminal threats.

In November, the Prosecutor General’s Office had already stated that the national digital currency would increase the transparency of government procurement.

The Bank of Russia and the Ministry of Finance confirmed plans to launch the digital ruble as a third form of money by 2030.

Testing of the new financial instrument will take place across twelve banks in the first quarter of 2022.

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