This will make any positive impact in crypto space?

[istiak2277]

Elvira Nabiullina, head of Russia's central bank, today said that a pilot version of a digital ruble could be ready by 2021. A Russian CBDC would “make payments faster, simpler and safer,” the country’s central bank also said in a report. Here is the source: https://www.youtube.com/watch?v=J2mmajgIYPA

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[jrrsparkles]

It will affect the traditional banking system and in my opinion CBDC won't have any impact on the crypto space because it is not crypto and nor having any threat to the utility of them.China already done this and many other countries will follow the same, so people need to learn and realize what they need them irrespective of what government says we need them.

[Coyster]

To add to what jrrsparkles has said already, be it the Digital ruble, digital Yuan or dollar, we can only expect a centralized 'digital' fiat, so don't let this news create any furore in your mind, and mind you it won't have any impact on the dex 'crypto space', as you asked in your op. I think down the next decade, almost every country, mostly the developed ones will have a CBDC of it's own, afterwards the third world countries will follow suit. It's all about their centralized economies, plus a bid to make their currency more useful and an added value.

Mind you that there is also a bit of competition in all of this; first China, U.S. and now Russia, this are the world powers, they have to do whatever it takes so as not to fall back against their competitors, even if my country launches a CBDC, I don't think I'll be using it, except it's extremely necessary, dex crypto gives us control and freedom, added with a responsibility of our funds, this is what no country's CBDC is going to offer.

[Bttzed03]

Will it have a positive impact to crypto? I'm not going to put my hopes that high but there's also a chance that the masses will be more familiarized with cryptocurrencies when they're introduced to CBDCs. Who knows if they'll become investors/traders once they have a basic understanding.

It's also possible that those who've heard of crypto before might not be interested anymore because there's a CBDC that they can use.

[shinratensei_]

CBDC will not actually give a direct impact on the crypto and you can imagine CBDC will be the same as tether but it was getting controlled by the central bank as the centralized institution that will fully be dictated about how this CBDC will be going one.

If there will be a crypto platform that will be working on the gateway between crypto and CBDC and it may bring the possibility for CBDC to enter the crypto market and people can easily use it to buy or trade crypto.
Crypto will have needed this service to be created by the community to make CBDC will be available to be used for crypto-related activities.

[adzino]

Elvira Nabiullina, head of Russia's central bank, today said that a pilot version of a digital ruble could be ready by 2021. A Russian CBDC would “make payments faster, simpler and safer,” the country’s central bank also said in a report. Here is the source: https://www.youtube.com/watch?v=J2mmajgIYPA

Digital ruble system as in just cashless fiat system? Or will it be a centralized crypto currency? I have been hearing for years about Russia and some other countries saying that they will be making their own version of crypto currencies the next year (or very soon) but never saw any of the country achieve this. But does not really matter to be honest. I mean its a centralized currency currently that will be under the governments control. I doubt it is going to make things "faster and simpler". It is going to have the same speed as those regular digital wallets like Paypal or cashapp.

[XCANA]

Generally speaking, no, most of these movement from the governments are just to keep powers as they are among the world powers, this will just be a digital currency base which will be centralize and control by the same government, so, this has nothing to do with the general cryptocurrency space. For what they are (government), i won't be interested in all of these coins from these government becasue they won't give freedom to the oppressed. I will go with the decentralized cryptocurrency to hold onto my freedom.  

[thesmallgod]

It might have significant influence in the sense that many countries have been proclaim of wanting to have their digital currencies so if the Russia push it through it might create solace and many other might consider to have the same. However, since it is going to be regulated as usual, I do not think it give people the liberty that many of the cryptos gives and besides, there has been a lot of discussion regarding regulating crypto asset in Russia

[Rodeo02]

It might have significant influence in the sense that many countries have been proclaim of wanting to have their digital currencies so if the Russia push it through it might create solace and many other might consider to have the same. However, since it is going to be regulated as usual, I do not think it give people the liberty that many of the cryptos gives and besides, there has been a lot of discussion regarding regulating crypto asset in Russia

Even it is regulated it doesn't mean they are not able to buy other cryoto currency using their own digital money. Making or having that option will benefit a lot for every crypto investors since there will a large market that will add another volume that we have now .

In addition there are PayPal from US that they can also use to buy cryoto currency if ever they can't buy it directly . i am assume that they can deposit thier money to PayPa.it already started and it be known  masses already and no one can stop that.

[Eternad]

It will notake big difference in crypto space as it's regulated by the government and mist investors were not interested in dealing with crypto related made by the government for the risk that they might stop the operation anytime as they changed mind in regulating it. It will only have impact in their people as it will help them get through in their transactions easily as well it will help them provide a better services as replacement or cohelper of mobile bankings during these Pandemic.

[kingzpro]

Elvira Nabiullina, head of Russia's central bank, today said that a pilot version of a digital ruble could be ready by 2021. A Russian CBDC would “make payments faster, simpler and safer,” the country’s central bank also said in a report. Here is the source: https://www.youtube.com/watch?v=J2mmajgIYPA

So here we are, the race for official digital currency has started and this will do nothing but boost the trust of masses in real coins and those who were hesitant from years will also jump in, this is another reason to be super bullish about cryptos for long term.

[batang_bitcoin]

Just like China who's also making a test for their CBDC. But the twist on this news from what I know is that cryptos are reportedly about to be banned. I lack of details about it because I only saw it on the news.
Russia’s Latest Draft Bill Would Still Largely Ban Crypto, Stifle Miners
It's a draft when the news came out but I don't know if in which process it is now.

[Chuky92]

The only good sides of this is, first the country has now come to the realization that digital currency is the way forward in a world of various technologies. Secondly, this will expose more people into researching more about digital currencies and thus in one way or the other, bringing them to the broader crypto space, hence more growth. Now, on the other hand, since it is coming from the government, then there won't be anything like decentralization, rather it will be a highly centralized cryptocurrency under the control of the government, therefore having little to no difference from the fiat currency. But however, the exposure it will lead people to, such as what crypto is all about and so on, is what I like about the development.

[disconnectme]

The way things are now I think all these countries will have their own, if the Chinese Digital currencies is hugely successful then expect others   Countries to follow suit. Digital Euro also is on the way and FED is talking about  Digital Dollar, the only countries likely to be left behind are the developing countries     

[bigcash2011]

Elvira Nabiullina, head of Russia's central bank, today said that a pilot version of a digital ruble could be ready by 2021. A Russian CBDC would “make payments faster, simpler and safer,” the country’s central bank also said in a report. Here is the source: https://www.youtube.com/watch?v=J2mmajgIYPA

We have to wait and see what are the rules and regulations around these CBDCs. I am especially keen to see the limitations on all these official coins because i know these will be fully centralized and controlled coins.

[CarnagexD]

Cryptocurrencies is under the digital currencies, it says there that they will pilot a digital currency to make transaction faster and safer than the conventional currency that they are using. Are there effects in cryptos? It's kinda vague to answer this question since they did not mention any use of crypto or even a small influence to have a crypto. The good side that I can think of it is that people will be more engage in online/digital money which may result to strike their interest into cryptocurrencies.

[Baofeng]

Nah, I don't see any positive impact of this news, specially coming from Russia? As I have said in the past, they are not crypto friendly country because crypto will give freedom to its people and that's what the government wants. Yes, they have their own CBDC but for what? just to be used locally? then how can it affect crypto in general? Besides the tax owning or using it, another burden for Russia. So any news coming from the Russian government regarding crypto should be taken with a grain of salt of.

[bitbollo]

probably it can help to gain the interest of mass media.
after China experiment of a central virtual currency (50k users), there was Bahamas with their CBDC as first official launch worldwide.
perhaps the real news will be a USD or EUR virtual currency.
A mass adoption cashless could give another big impact for most cryptocurrencies.

[Danslip]

Russia's government has banned crpyto trading years ago and today the representative of Russia central bank talks about faster, simpler, and safer payments. Crpyto is a key to all required financial transparency but the government shouldn't ban the projects in the crypto ecosystem. The latest decision can lead to the increasing popularity of cryptocurrencies in Russia. Digital Rub can be real if the government can help the startup projects to survive especially in the pandemic. I know many new projects have move their office from Russia to Estonia due to tight regulation and corruption facts.

[crzy]

Russia's government has banned crpyto trading years ago and today the representative of Russia central bank talks about faster, simpler, and safer payments. Crpyto is a key to all required financial transparency but the government shouldn't ban the projects in the crypto ecosystem. The latest decision can lead to the increasing popularity of cryptocurrencies in Russia.

If they allow bitcoin then it can be good but if they only the Digital Rubble then I think this is a different scenario and this is something that crypto enthusiast don’t want to happen, because it is a centralized currency especially under the control of the government. There might be an impact on the market because of this but I’m still looking for more support coming from Russia with regards to Bitcoin adoption.