Crypto Bank of Russia claims that the digital ruble will provide Russians with what they require.

[Yusra3]

The Central Bank of Russia (CBR) considers cryptocurrencies and stablecoins extremely seriously since they constitute a threat to the nation's economic stability, according to the president of the central banking system at a symposium hosted by the Bank of Finland's Institute for Growing Economies. Elvira Nabiullina, who spoke to the crowd via video conference and also shared the Russian perspective on central bank digital currencies, expressed caution about all of these sorts of private tokens (CBDCs).

According to Nabiullina, the introduction of cryptocurrencies, particularly global stablecoins, towards emerging economies could accelerate monetary substitution, displacing fiat currencies. As a consequence, financial stability concerns could rise, whereas the conduct of monetary policy may deteriorate, according to the high-ranking source, who spoke about Russia's digital ruble initiative during her speech.

 

[sincerem]

Is nice majority of the countries are simply heading into digital coin which will enable users using their country's CBDC for online payment of goods and services and also exchange for cryptocurrency or other CBDCs. Since they fear that crypto will hamper the progress of their fist currency by devaluing it. With the help of the CBDC they can fear no more since it's a digital to digital coin transaction.