According to the law signed by President Vladimir Putin, legal entities and individuals are given the opportunity to use the digital ruble as a means of payments and transfers within the territory of the country. The relevant amendments have been introduced
to the Civil Code, and the main provisions of the new law will come into force on August 1
Transactions in digital roubles will be carried out by means of a special information system. Digital ruble transfers and payments are expected to be free for citizens, while commercial entities will be charged a fee of 0.3% of the payment amount.
The new form of national currency is intended to be stored on the balance of digital wallets, access to which is planned to be organized directly through mobile applications of commercial banks. The Bank of Russia has been appointed as the issuer of the digital ruble and operator of the payment system.
Earlier, the head of the Central Bank Elvira Nabiullina assured that the use of the digital ruble will be “absolutely voluntary” – CBDC will be only “an additional opportunity for people”.