President Putin signed a law on the introduction of a digital ruble in Russia
Russian President Vladimir Putin signed a law on the introduction of the digital ruble. Relevant Document published on the official portal of legal information.
This is the third type of national currency, along with cash and non-cash forms of money. The main provisions of the law come into force on August 1, 2023.
It will be possible to carry out operations with the digital ruble on a special platform. The Bank of Russia will become the operator of this information system. The rules of the digital ruble platform will be posted on the official website of the regulator. According to the law, the Central Bank will guarantee the secrecy of the accounts of the digital ruble, the balances on them and the transactions of users.
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The digital ruble is an asset that stored in a special electronic wallet. Unlike cryptocurrencies, it is issued only by the Bank of Russia. With the help of digital currency, Russians can pay for goods and services, make payments, transfer money, and also pay for transactions with financial instruments and assets. At the same time, it will not be possible to credit digital rubles to deposits and deposits in banks.
The Central Bank announced the launch of a pilot project to test the digital ruble in January 2022. 34 credit institutions are currently participating in the experiment. The mass introduction of the digital ruble in the country is possible from the beginning of 2025, the head of the Central Bank, Elvira Nabiullina, said earlier.
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