The Russian State Duma immediately passed in the second and final third reading a bill to introduce the digital ruble into the country’s banking system.
The Central Bank of Russia, which is assigned the status of the operator of the digital ruble platform, now has the right to refuse a bank to conduct a transaction if the regulator realizes that the transaction takes place without the client’s consent.
The law, once approved by the Federation Council and the president, is set to take effect as early as August 1, 2023.
The bill prohibits loans in digital currency, as well as charging interest on digital ruble balances