Putin signs digital ruble bill into law, enabling CBDC in Russia
Under the newly signed law, the Bank of Russia is tasked with storing digital ruble assets and will be the principal operator of the digital ruble infrastructure.
Latest digital ruble News
Russia passes CBDC legislation as digital ruble pilot prepares for takeoff
The CBDC bill, supporting the creation of a digital ruble pilot, amended certain parts of the Russian civil code and established the right of the central bank as the primary issuer of the CBDC.
CBDCs could end SWIFT, Russia’s central bank executive says
First Deputy Governor of the Bank of Russia Olga Skorobogatova said the digital ruble project will advance in stages, modeled after China's digital yuan pilot.
Russia’s CBDC initiative to target foreign access following proposed amendments
Russia's CBDC pilot program was pushed back to July following the decision of the State Duma Committee to amend the digital ruble bill, which includes giving non-residents access to foreign banks.
Republic of Belarus to launch pilot program for CBDC: National bank chairman
The central bank confirmed that it had started the process for the development of a demo version to look into the viability of central bank-backed digital currencies.
Russia wants BRICS nations to explore new trade currency
India and Russia should take the lead in forming a financial relationship to ultimately create a new common currency, according to State Duma Deputy Chairman Alexander Babakov.
Plans for Russia’s digital ruble pilot delayed indefinitely
Reports disclosed that the bill had only managed to scale through the first reading in the State Duma, the lower house of parliament, but it may be operational in May.
Bank of Russia to pilot digital ruble with real transactions in April
For the first time, Russia will move ahead with its central bank digital currency pilot program involving 13 banks and customers, and this time, the digital ruble will be used in real transactions.
Russia’s Gazprombank suggests slowing down digital ruble launch fearing losses for commercial banks
The digital ruble has received heightened attention as the government intends to use it to circumvent economic sanctions imposed on it since its war agains Ukraine.
Russia studying CBDCs for cross-border payments amid tightening sanctions
Efforts to launch the digital ruble are already in place, with testing client-to-business (C2B) operations by selected financial institutions scheduled in the coming months.
Digital ruble bill submitted to Russia’s State Duma
The new draft bill seeks to make the Bank of Russia the “sole operator” of the digital ruble to the exclusion of other entities.
Russia eyes use of digital ruble in transacting with China
As the U.S. fortifies its grip on the global financial system, Russia targets to give sanctions-hit countries an opportunity to carry out international business easily—by using CBDCs.