Head of the Central Bank of Russia Nabiullina: mass introduction of the digital ruble is possible from the beginning of 2025
The head of the Central Bank of Russia, Elvira Nabiullina, said that the mass introduction of the digital ruble in the country is possible from the beginning of 2025. She spoke about this on meeting Russian leader Vladimir Putin with the government.
“We are going to test the digital ruble, we will start with basic operations and next year we will expand to other operations, including one-touch payments. We will test transfers between legal entities,” the head of the Central Bank said.
According to her, when experts are convinced “that everything is working smoothly,” a decision will be made on additional scaling of the digital ruble. Nabiullina stressed that this could happen in 2025.
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On July 19, senators of the Federation Council at a meeting approved the law on the digital ruble. The draft law on the third form of the national currency determines its legal status and the status of transactions with it. It also affects the relationship between the operator of the digital ruble platform – the Bank of Russia, financial intermediaries and its users.
As specified, the main provisions of the law will come into force on August 1, 2023. The rules for operations on the digital ruble platform, as well as tariffs and terms for their implementation, will be approved by the board of directors of the regulator.
In addition, on July 13, the State Duma adopted a law that introduces the concept of a digital ruble into the Civil Code of Russia. The possibility of settlements in digital rubles on the territory of the country is also fixed – by transferring by the Central Bank on a special platform.
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