“We will have to test the digital ruble, we will start with basic transactions and next year we will expand the tests to other transactions, including one-touch payments, NFC,” the head of the main financial regulator said.
Nabiullina said the government will test transfers between legal entities, as well as smart contracts.
“We really need this piloting to do the customization of the whole system, to check the smoothness of the. Only when we are sure that everything is working smoothly will we decide on additional scaling of the digital ruble. We estimate that this could happen from 2025 onwards,” the official said.
Last Wednesday, July 11, the State Duma passed a bill on introducing the digital ruble into the banking system in its second and final third reading at once. The CBR, which is assigned the status of the CBDC platform operator, now has the right to refuse any commercial bank to conduct a transaction if it realizes that the transaction is being conducted without the client’s consent;
Several major Russian banks have recently announced that they are ready to test real-world transactions with CBDC digital rubles.
Anatoly Aksakov, chairman of the State Duma’s Financial Markets Committee, said that minors will not be able to take possession of their parents’ digital rubles and buy whatever they want.