Russia and China need to establish an exchange of information on the legal regulation and protection of their digital currencies. This statement was made by the Prosecutor General of the Russian Federation Igor Krasnov during a meeting in Beijing with a colleague from China Ying Yong.
The head of the department noted that China is one of the first countries in the world to start implementing a central bank digital currency. Russia followed suit, and on July 11, the State Duma passed the corresponding law.
“I guess the exchange of information about their (digital currencies – approx. REN TV) legal regulation and protection against criminal influence is also of common interest to our prosecutorial services”Krasnov added.
Recall that the introduction of the digital ruble was due to the need to create a tool that combines the independence of cash and the convenience of non-cash funds. The Central Bank of the Russian Federation believes that the digital ruble will be able to replace SWIFT and allow Russians to freely pay and transfer money.
The bill should enter into force on August 1, 2023. Some rules will come into effect at a later date.
