Russian President Vladimir Putin signed a law on the introduction of a digital ruble in the Russian Federation and the creation of an appropriate electronic platform. The document is posted on the official Internet portal of legal information.
An additional form of the national currency of the Russian Federation will be issued along with existing forms of money.
“The Russian ruble will now have three forms: cash, non-cash and digital,” the document says.
It will be possible to make a transaction with the new monetary format using the digital ruble platform, a special information system, the operator of which, according to the law, is the Bank of the Russian Federation.
The law, with the exception of certain provisions, will come into force on August 1, 2023.
On July 21, the Chairman of the Bank of Russia, Elvira Nabiullina , stated that Russian citizens would not be forced to use the digital ruble, everyone would be able to choose which form of the ruble to use.
On July 19, Nabiullina announced that the mass introduction of a new type of currency could occur in 2025.
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