17:17, 11 July 2023 Page views 1586 views

Law on Introduction of Digital Ruble Passed in the Third Reading

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The State Duma has passed a draft law on the introduction of the digital ruble and the creation of a digital ruble platform in the final third reading. The document prohibits crediting digital ruble accounts, charging interest on their balance and opening joint accounts in digital rubles.

The document has been published in the system of ensuring legislative activity.

The draft law gives the Central Bank the right to refuse a bank to conduct a financial transaction with digital ruble at the client's order if the Central Bank sees signs of disagreement of the client with the operation.

The bill extends the right of the Bank of Russia to determine the users of the digital ruble platform, as well as the list of transactions on the platform and the threshold amount of their amounts until December 31, 2024.

The main provisions of the law should come into force on August 1, 2023.