Russia to Start Testing ‘Digital Ruble’ CBDC in August Barring Putin's Veto
Russia is set to begin testing its digital ruble, a central bank digital currency (CBDC), in a few weeks. The bill granting legal authority to the CBDC has passed through the Federation Council and awaits President Putin's signature. If enacted, the central bank will act as the platform operator for the digital ruble, allowing Russians to make payments and transfers from their digital wallets. The move aligns Russia with other major economies, such as China and Japan, that have launched CBDC pilots.
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Russia to Start Testing ‘Digital Ruble’ CBDC in August Barring Putin's Veto
Russia is set to begin testing its digital ruble, a central bank digital currency (CBDC), in a few weeks. The bill granting legal authority to the CBDC has passed through the Federation Council and awaits President Putin's signature. If enacted, the central bank will act as the platform operator for the digital ruble, allowing Russians to make payments and transfers from their digital wallets. The move aligns Russia with other major economies, such as China and Japan, that have launched CBDC pilots.