A bill has been submitted to the State Duma of Russia aimed at mandating banks and merchants to use the digital ruble while implementing a universal QR code payment system. The bill is led by a group of senators and deputies, including Anatoly Aksakov, Chairman of the Duma's Financial Markets Committee, and has been officially submitted to the electronic database of the lower house.
The proposal outlines a phased rollout plan for the digital ruble, starting on July 1, 2025, initially launching at systemically important banks (banks critical to the stability of the national economy), and expanding to all banks by 2027. Merchants must also accept the digital ruble to promote public usage. By July 2025, businesses with annual revenues exceeding 30 million rubles must enable digital ruble payments, with the threshold dropping to 20 million rubles by July 2026. Businesses in areas without mobile or internet access are exempt from this requirement.
The bill, combined with a universal QR code system, simplifies the payment process to enable seamless use of the digital ruble. Amendments to consumer protection laws require merchants to comply with regulations to ensure broader adoption. Additionally, credit institutions and foreign bank branches participating in the platform are obligated to support these transactions.