Russia’s State Duma Approves National CBDC Project

The legislation will become official once the Federal Council and the President of Russia give their approval.

Russia’s State Duma – the lower chamber of the local parliament – passed the digital ruble bill. The legislation defines rules surrounding the nation’s upcoming central bank digital currency, outlining the Bank of Russia as “the operator” of the project.

The institution will also establish a range of users of the digital ruble platform, adjust their type of transactions, and set specific thresholds by the end of 2024.