The Russian Ministry of Industry has suggested a two-year transition period for implementing digital ruble payments in the retail sector, citing concerns over unprepared infrastructure and potential challenges with rapid deployment.

Concerns About Infrastructure Readiness

The Ministry of Industry has called for a two-year transition period before mandatory adoption of the Central Bank Digital Currency (CBDC), known as the digital ruble. According to the ministry, rushing the implementation could cause significant issues for retail businesses, as reported by the state-controlled media outlet Izvestija.

Under the proposed legislation, starting in July 2025, large retailers would be required to allow customers to pay using the digital ruble. Smaller businesses could receive delayed implementation deadlines based on their annual revenue.

More Time Needed for CBDC Adoption

The ministry highlighted that the current draft law lacks clear operational guidelines for the introduction of the digital ruble. Key areas requiring attention include:

  • Finalizing the software,

  • Updating information systems,

  • Conducting system testing,

  • Training personnel.

To mitigate risks, the ministry recommends a two-year transition period, giving businesses adequate time to adapt to the new digital payment system.

Central Bank Plans Gradual Rollout

The governor of the Russian Central Bank, Elvira Nabiullina, stated that if pilot programs for the digital ruble proceed as planned, the country could begin mass implementation by July 2025. However, the transition will be gradual.

Nabiullina further noted that full-scale CBDC adoption may take five to seven years, emphasizing that the process will be "natural" and guided by business needs and consumer convenience.

Conclusion

The Ministry of Industry stresses that successful digital ruble adoption requires thorough preparation of infrastructure and a longer transition period. Whether the planned mass implementation by July 2025 will succeed depends on cooperation between the government, central bank, and businesses.

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