The bill on the digital ruble is submitted to the State Duma

The document proposes to secure the status of the sole operator of the digital ruble platform for the Bank of Russia and establishes the rules for issuing and using a new form of national currency.

The documents were developed as part of the implementation of the National Payment System Development Strategy for 2021-2023, approved by the Bank of Russia.

The first bill amends a number of laws that define the legal status and rules for the use of the digital ruble, including the rules for the circulation of digital rubles in Russia and foreign countries. Moreover, it is established that the digital ruble is the currency of the Russian Federation.

The Federal Law “On Personal Data” is amended to provide the digital ruble platform operator (the Bank of Russia) with the opportunity to process personal data without obtaining the consent of the subject of personal data and without notifying the authorized body for the protection of the rights of subjects of personal data.

Testing of the digital ruble on real clients is planned to begin in the third quarter of 2023. At the moment, a pilot project for the use of the digital ruble is ongoing with the participation of 15 banks.