Russia hosts Brics talks over cross-border use of CBDCs

Summit takes place in Moscow with bloc’s new Middle Eastern and African members

Central Bank of Russia
Central Bank of Russia
Photo: Ludvig14/Wikimedia Commons

The Bank of Russia is holding consultations with delegates from the Brics economic bloc and other friendly countries over the cross-border use of central bank digital currencies (CBDCs), Russian state media has reported.

The bank’s governor Elvira Nabiullina made the announcement on state-owned RIA Novosti on January 30. She said the Bank of Russia opposed the use of cryptocurrencies for domestic payments. However, she added that she supported the use of cryptocurrencies and CBDCs for foreign

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