Russian Lawmaker: CBDC and Blockchain Technology May Replace Traditional Banks

Odaily Planet Daily News Anatoly Aksakov, Chairman of the Financial Committee of the Russian Parliament, said: "As for the role of banks, I think that with the development of blockchain, their role will be weakened in the future." Private banks will have to find new uses, Aksakov said, and they will be able to participate in the infrastructure of digital financial assets and the digital ruble, adding: “The traditional role they played will gradually disappear.” Aksakov also noted that Russia’s central bank has limited daily usage of the digital ruble to 200,000 rubles (approximately $2,000). (Cointelegraph)