Russia · US Congress · European Union · The Block
Bank of Russia governor confirms ‘everything is ready’ for widespread apply of digital ruble ahead of September rollout
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Russia's banks and major retailers have finished preparing for the broad rollout of the digital ruble, Bank of Russia Governor Elvira Nabiullina said on Wednesday.
Key facts
- Furthermore, Russian financial news outlet Prime reported Thursday that Russia may place a 48-hour "cooling period" for transfers of cryptocurrencies to accounts involving certain unqualified
- The banks classified as systemically important are expected to begin offering the Russian CBDC to clients starting September 1, according to the report
- Ursula von der Leyen, president of the European Commission, said that the proposed package would extend transaction bans to 20 non-EU entities, including banks, crypto platforms, and oil traders
- Russia's banks and major retailers have finished preparing for the broad rollout of the digital ruble, Bank of Russia Governor Elvira Nabiullina said on Wednesday
Summary
According to state-run media TASS, Nabiullina said during a briefing at the Bank of Russia Financial Congress that systemically important banks and large domestic enterprises are technologically prepared to connect with and accept the digital currency. The central bank governor said they are considering letting commercial banks host digital ruble wallets on their balance sheets, instead of restricting them to the regulator. "We want the digital ruble to be genuinely in demand by people and businesses, to be convenient," Nabiullina said. The banks classified as systemically important are expected to begin offering the Russian CBDC to clients starting September 1, according to the report.