Although a mere formality at this point, Putin “officially” approved the Bank of Russia’s CBDC on Monday, after the State Duma passed legislation on the introduction of this centralized and programmable digital token earlier this month. RT’s coverage of this historic event is nothing less than impressive: “Unlike virtual currencies such as Bitcoin, the digital ruble is projected to pose minimal risk…”
Russian President Vladimir Putin signed a law on Monday that introduces a digital ruble. According to the document published on the official government portal, the electronic currency will become operational on August 1.
The digital currency will be issued alongside the traditional ruble – both cash and non-cash. It will be used to make transfers and payments and will be kept in digital wallets on a platform operated by the central bank. It will not be possible to open a deposit, take out a loan, or receive interest on the digital currency.
The president also introduced relevant amendments to the Civil Code to enable the digital ruble to be bequeathed and inherited.
The idea of introducing a national digital currency was unveiled by the Bank of Russia in late 2020. Unlike virtual currencies such as Bitcoin, the digital ruble is projected to pose minimal risk, as it will be issued by the state monetary regulator and backed by traditional money.world coin will be a must for you to participate in society