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Russian Parliament Passes Vital “Digital Ruble” Legislation With Plans To Start Tests In August
12.7.2023
As momentum builds around the ‘digital ruble’, the proposed Central Bank Digital Currency (CBDC) of the Russian Federation, the country’s parliament has inched closer to the landmark legislation.
On July 11, the lower parliamentary house, the State Duma passed the bill in its third reading taking...
Central Bank of Russia: Digital Ruble Could Be Launched as Soon as 2025
8.7.2023
Olga Skorobogatova, first deputy chairman of the Central Bank of Russia, indicated that the launch of the digital ruble, the Russian central bank digital currency (CBDC), could happen in 2025. The pilot test for the CBDC will be organized later this year after the State Duma, the lower house of...
Russian lawmakers propose amendments to digital ruble bill
23.5.2023
The bill could be changed regarding debt operations, services for non-residents and the role of the central bank
Digital Ruble Law Likely to Be Passed in June According to Russian Official
19.5.2023
The digital ruble law project, which was already discussed and approved in its first reading, could be passed in June, according to Anatoly Aksakov, chairman of the Duma’s Financial Markets Committee. The Bank of Russia is currently waiting for the enactment of this ruleset to conduct a live test...
Russian CBDC ‘Ready for Launch by Year’s End’ – What Effect Will Digital Ruble Have?
26.4.2023
Russia’s central bank digital currency (CBDC) could be released before 2023 is out, the government has claimed.
Lenta.ru reported that 19 Russian banks are currently working with the Central Bank on its latest phase of digital ruble testing.
Moscow wants to fast-track the rollout of its CBDC in...
Russia Launching Payment System With ‘No Restrictions’ — Digital Currencies to Be Completely Unrestricted
25.4.2023
Russia is launching a new payment system that is “bound by no restrictions” where digital currencies could be used in cross-border payments, said Russian Finance Minister Anton Siluanov. “Two parties come to an agreement, make settlement payments, and no other country could step in and freeze such...
Russia to Work With Digital Currencies of Other Nations
23.4.2023
The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by the central banks of other countries are already under development, the monetary authority unveiled....
Russia delays digital ruble launch testing due to lawmaking process
29.3.2023
The participating banks, however, express their readiness to proceed with the CBDC pilot
Russian Parliament Votes on Bill Opening Door for Digital Ruble
18.3.2023
Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the launch of the central bank digital currency. Russian...
Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’
9.3.2023
Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said. Thousands of Investment Offers...
Bank of Russia to Start Testing Digital Ruble With Real Users on April 1
20.2.2023
The Central Bank of Russia plans to launch test operations with digital ruble transactions between real customers at the beginning of April. More than a dozen banks will join the upcoming stage of the pilot project, a high-ranking representative of the bank announced to Russian media. Russia’s...
Bank of Russia to Pilot CBDC in April
17.2.2023
Digital ruble payments will be launched for retail purchases and peer-to-peer transactions, a central bank official said
Digital Gold Traded for Digital Rubles by Russia’s Rosbank
9.2.2023
Rosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets and the need for digital ruble payments, the banking...
Banks in Russia to Lose $700 Million a Year Due to Digital Ruble, Experts Say
3.2.2023
Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be paid any interest or cashback. Launch of Russia’s...
Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCs
11.1.2023
The Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed coins in international settlements. The monetary authority also plans to start testing consumer-to-business (C2B) operations in the first quarter of the year. Russia’s Central Bank...
Russia to begin work on CBDC settlement system in Q1 as sanctions endure: Report
10.1.2023
The country's central bank will begin studying two possible cross-border CBDC settlement models this quarter
Bill on Digital Ruble Submitted to Russian Parliament
1.1.2023
A draft law devoted to the digital ruble has been filed with the State Duma, the lower house of Russian parliament. The legislation introduces rules determining how the new form of national fiat will be issued and amends a series of legal acts to facilitate its implementation. Bank of Russia to...
Russia’s Digital Ruble Integrated Into Banking App
12.11.2022
VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select customers will be granted access in the coming months and will be able to join the trials. VTB’s Mobile App to Support...
Bank of Russia Adds Digital Assets to Banking Chart of Accounts
3.10.2022
Central Bank of Russia has introduced digital assets, including the digital version of the Russian ruble, to the recently published draft of the new banking chart of accounts. In the future, financial institutions will be able to provide data about operations with these assets. Russian Banks...
Settlements With China — Russia Plans Next Step for Digital Ruble
28.9.2022
Russia intends to use its digital ruble, to be introduced early next year, for payments with its key ally, China. Authorities in Moscow hope other nations will be willing to adopt the Russian digital currency in trade, which will allow the country to circumvent sanctions imposed over the Ukraine...