Russia is set to make the digital ruble mandatory for banks and large merchants by 2025, pushing widespread adoption through universal QR code payments.
Russia Moves to Mandate Digital Ruble for Banks and Merchants
A bill has been introduced to Russia’s State Duma that seeks to make the use of the digital ruble, Russia’s central bank digital currency (CBDC), mandatory for banks and merchants, alongside implementing a universal QR code system for payments. Spearheaded by a group of senators and deputies, including Anatoly Aksakov, head of the Duma Committee on Financial Markets, the legislation has officially been submitted to the lower house’s electronic database.
The proposal outlines a phased rollout of digital rubles, starting on July 1, 2025, with systemically important banks—those essential to national economic stability—and expanding to all banks by 2027. Merchants must also accept digital rubles to boost public access. By July 2025, businesses with annual revenues over 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.
The bill aligns with a universal QR code system to streamline payments, enabling seamless digital ruble use. Amendments to consumer protection laws mandate merchant compliance, ensuring broader adoption.
The legislation also assigns the National Payment Card System (NSPK) as the operator responsible for implementing the universal payment code, reinforcing its role in the country’s financial infrastructure. The bill specifies that digital ruble transfers, including payments to businesses, notaries, lawyers, and other professionals, must utilize the QR code unless alternative methods are outlined by the digital ruble platform.
Credit institutions and foreign bank branches participating in the platform are obligated to enable these transactions. This initiative highlights Russia’s drive to modernize its financial ecosystem and foster the widespread use of digital currency, positioning the digital ruble as a cornerstone of the nation’s payment landscape.
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