25.Oct .2021 21:00

Eurasian Economic Union has no Plans to Introduce Common Digital Currency

Eurasian Economic Union has no Plans to Introduce Common Digital Currency
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The countries of the Eurasian Economic Union are not planning to introduce a common digital currency, official representative of the Eurasian Economic Commission (EEC) Iya Malkina said. 
 
"The EAEU states (Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia) have no plans to introduce a single digital currency," Iya Malkina said. “The parties do not have a common opinion on the need to develop a harmonized legal framework on the use of digital assets, digital signs and cryptocurrencies in the union. The Commission suggested adopting a relevant recommendation several years ago but the parties were not prepared for it,” BelTA informs. 
 
Yet, the central banks of the EAEU countries are working on the subject of a national digital currency, Malkina said, adding: "I would like to note that these issues fall within the national purview of the EAEU states, but at the initiative of the parties, the Eurasian Economic Commission will revisit this issue in case of successful application of a digital national currency technology in the EAEU member states.”