The Central Bank of the Russian Federation is considering the possibility of introducing commissions for transfers to the digital USD, but the final decision on this issue has not yet been made. The head of the Bank of Russia Elvira Nabiullina stated this in an interview with Izvestia .
She noted that it is not so much about the commission when transferring from one form to another, “although it is possible.”
“They shouldn’t be inside one bank, just as there should be no commissions for C2C transfers in the digital USD. In C2B payments, commissions can be discussed: what additional expenses may arise when transferring digital USD, here you need to take into account the policies of both banks and the payment system, “added Nabiullina.
The head of the Central Bank stressed that, even in the case of the introduction of commissions, “they will be lower than the existing ones and will reduce the costs of citizens and businesses.”
Nabiullina also stated that the key property of the digital USD is that it is guaranteed by the central bank and “will be preserved in this sense, regardless of which bank the client is served at.”
She called the main advantage of the new asset the ability to preserve the digital USD , for example, in case of loss of the carrier:
“There is an opportunity to create such a system, since each digital USD will have its own unique number, which will allow it to be restored if the gadget is lost. But it is important to see how in this case to avoid fraudulent schemes. “
According to the head of the Central Bank, most of the participants in the discussion of the concept of the digital USD spoke in favor of introducing a two-tier system with the involvement of financial intermediaries.
She stressed that the regulator does not assume that “there will be some rapid change in the structure of the money supply”:
“We still have to create a prototype and test it before the digital USD is widely used. We must technologically elaborate this entire system from the point of view of information security, resistance to cyber risks and implement it already in a mature form. “
We will remind, the deputy chairman of the Central Bank Alexei Zabotkin said that the regulator plans to present a prototype platform for the digital USD by the end of this year, and testing is scheduled for 2022 .