With the passing of Russian laws supporting a digital ruble, banks have many questions about the central bank digital currency (CBDC). The Association of Russian Banks (ARB) reportedly sent a letter of queries to the central bank. Its website subsequently went offline. Plus, two separate consumer surveys found limited awareness about the CBDC, with some suspecting it is a scam.
Kommersant reported the letter two days ago and the news has been carried by many other Russian websites. However, the link to the letter and the Association’s entire website are currently unavailable.
The letter states that “in society there is an extremely wary attitude towards the introduction of the digital ruble.” Hence banks are concerned about making it compulsory for citizens to open a digital ruble account. The central bank had previously stated it was optional but bankers want that legislated.
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