A crypto ruble may become a fully functional digital version of Russia’s fiat currency once the Duma passes laws on cryptocurrency industry regulation, Anatoliy Aksakov, chair of the State Duma Committee on Financial Markets, said in the interview with RIA Novosti.

He believes that business would require a digital ruble to support blockchain-based trade and serve the needs of digital economy participants once distributed ledger technologies become an integral part of the Russian economy.

“It’s the same ruble, only encrypted to serve the money turnover between blockchain participants… Like you deposit 100,000 rubles with a bank and get 100,000 crypto rubles to purchase blockchain-based products and services,” h…

This article appeared first on Cryptovest

Like this: Like Loading...