digital ruble Archives

Bank of Russia: Digital ruble is not compulsory

Business

Wahid Pessarlay

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4 August, 2023

Bank of Russia: Digital ruble is not compulsory

Even though the use of the digital ruble remains voluntary, the Bank of Russia’s law on the CBDC is being...

Putin signs digital ruble bill into law, enabling CBDC in Russia

Business

James Field

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27 July, 2023

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...

Business

Wahid Pessarlay

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20 July, 2023

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...

CBDCs could end SWIFT, Russia’s central bank executive says

Business

Wahid Pessarlay

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14 July, 2023

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...

Russia’s CBDC initiative to target foreign access following proposed amendments

Business

Wahid Pessarlay

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30 May, 2023

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...

Republic of Belarus to launch pilot program for CBDC: National bank chairman

Business

Wahid Pessarlay

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22 April, 2023

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...

Russia wants BRICS nations to explore new trade currency

Business

Wahid Pessarlay

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4 April, 2023

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...

Plans for Russia’s digital ruble pilot delayed indefinitely

Business

Wahid Pessarlay

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2 April, 2023

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...

Bank of Russia to pilot digital ruble with real transactions in April

Business

Wahid Pessarlay

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24 February, 2023

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...

Russia’s Gazprombank suggests slowing down digital ruble launch fearing losses for commercial banks

Business

Wahid Pessarlay

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12 February, 2023

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...

Russia studying CBDCs for cross-border payments amid tightening sanctions

Business

Wahid Pessarlay

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13 January, 2023

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...

Digital ruble bill submitted to Russia’s State Duma

Business

Wahid Pessarlay

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4 January, 2023

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...

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