The Russian Central Bank Governor, Elvira Nabiullina, has confirmed that the digital ruble will be launched on September 1, with all preparations complete. This central bank digital currency (CBDC) will complement the existing fiat ruble and will initially be accepted by financial and credit institutions. The development of the digital ruble began in 2021, and it has already faced preemptive sanctions from the European Union due to Russia's ongoing conflict with Ukraine.
First Deputy Governor Vladimir Chistyukhin noted that the law governing the digital ruble will also take effect on September 1, with a transition period extending until July 2027. Meanwhile, in the United States, a housing bill that includes a ban on CBDCs has been sent to Trump. If not signed within 10 days, the ban will automatically take effect and remain until 2030.
Russia to Launch Digital Ruble on September 1, Confirms Central Bank
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