An initiative to create a joint digital currency for BRICS countries and the Eurasian Economic Union (EEU) has been proposed by the Central Bank of Russia, according to its First Deputy Governor Olga Skorobogatova.  She said the issue of a common cryptocurrency for a number of countries is very promising, more than that for a single nation. “The participants of different economic events where I usually take part… all come to the conclusion the issue of a virtual currency is not needed much by one country.

First of all, it makes sense to discuss the cryptocurrency on the level of several countries such as BRICS and EEU. It makes sense to set one equivalent for all payments,” Skorobogatova said at a Russian finance ministry meeting. While no concrete decisions have been made yet, said the official, discussions are planned for 2018 by both BRICS and EEU members. “The introduction of a national digital currency seems to us not entirely justified from the point of view of macroeconomics, population…” said Skorobogatova. READ MORE