In January, the State Duma will begin developing amendments to eight federal laws and five codes to introduce the digital ruble into the country's economy
The Bank of Russia will release a prototype of the national digital currency early next year. During 2022, the regulator will test the digital ruble and after that will make the final decision on the issue of the national digital currency. This is reported by Reuters with reference to the statement of the head of the Central Bank Elvira Nabiullina.
In January 2022, the State Duma plans to start developing amendments to the legislation necessary to introduce the digital ruble into the country's economy. Anatoly Aksakov, the head of the State Duma committee on the financial market, told Izvestia about this. According to him, amendments will be made to at least eight federal laws and five codes (Civil, Tax, Budgetary, Criminal and Administrative).
Aksakov explained that the owners of digital rubles and the owners of cash will be completely equal, since the new form of the national currency will be endowed with all the functions of money: as a means of circulation (payment), a measure of value and a store of value.
In October, the first deputy chairman of the Central Bank Olga Skorobogatova explained the need to issue a digital ruble. According to Skorobogatova, the national digital currency is being developed by the regulator to increase the availability and convenience of payment services, as well as reduce the cost of such services for citizens and businesses.
The digital ruble is an additional form of the Russian national currency to be issued by the Bank of Russia. It combines the properties of cash and non-cash rubles. Like non-cash money, the digital ruble makes remote payments and online settlements possible. On the other hand, like cash, it can be used offline – in the absence of Internet access.