Anatoly Aksakov, chairman of the Russian State Duma Committee on Financial Markets, believes that the country’s not-yet-launched digital currency is the “highest form of money.”
In a Monday interview with state media RT, Aksakov expressed optimism about Russia’s upcoming central bank digital currency, predicting that a digital ruble will become an integral part of national settlements in two or three years.
Aksakov said that the Bank of Russia expects to finalize a digital ruble prototype by the end of 2020, and plans to issue a development roadmap in the near future. “A digital ruble is the highest form of money at this point,” he declared, elaborating that it is effectively the “same ruble, but in the digital form.”
Aksakov also said that Russia will gradually move away from U.S. dollar for settlements in the