Russia is set to become one of the first countries to collect taxes in digital rubles starting from 2025, according to recent tax code amendments signed into law by President Vladimir Putin. The Ministry of Finance is also planning to use digital rubles for pension payments and other social benefits. The government aims to expand the use of the digital currency in various areas, including welfare and subsidy payments, with a pilot program set to be implemented this year. However, the ministry has not provided specific details regarding its plans, which may involve color-coded CBDC tokens. In addition, banks will be given the authority to block digital ruble transactions if they suspect any criminal activity, as part of anti-money laundering measures being developed by the Central Bank in collaboration with the nation’s anti-money laundering regulator, Rosfinmonitoring. The regulator has previously monitored thousands of Russian crypto holders for potential money laundering activities and claims to have developed tools to track and de-anonymize crypto transactions on popular blockchains.
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Russia Will Begin Collecting Taxes in Digital Rubles from 2025
