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20 October 2021, 12:31

Eurasian Economic Union has no plans to introduce common digital currency

MOSCOW, 20 October (BelTA) –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 told a briefing for the press in Moscow on 20 October, BelTA has learned.

"The EAEU states 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.”

Yet, the central banks of the EAEU countries are working on the subject of a national digital currency, Iya Malkina said. "I would like to note that these issues fall within the national purview of the EAEU states," she said. “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," Iya Malkina added.

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