Russia’s first deputy PM supports a state cryptocurrency

In an interview with Russian publication RBC, Igor Shuvalov, Russia’s First Deputy Prime Minister spoke of his support for cryptocurrencies. The senior official specifically called for the creation of a “crypto-ruble,” a state-backed cryptocurrency that would, according to him, make the Russian economy stronger.

The Russian official’s comments come with months of the notable revelation that Russia’s central bank is already working on a national digital currency. Earlier in June, deputy chairwoman at Russia’s central bank Olga Skorobogatova claimed it was only a matter of time before countries adopted national digital currencies, whilst adding that Russia was working on certain pilot projects of its own.