The State Duma adopted a law on the introduction of the digital ruble
The State Duma accepted in the second reading the law on the digital ruble. The document introduces the basic concepts necessary for the introduction of the digital ruble, including determining the legal status and the possibility of conducting transactions with it, the relationship between the operator of the digital ruble platform – the Bank of Russia, its participants (financial intermediaries) and users (citizens and companies).
Operations on the digital ruble platform will be carried out in accordance with the rules approved by the Board of Directors of the Bank of Russia. He will also determine the tariffs for operations with the third form of the national currency and the timeframe in which banks will have to provide customers with the opportunity to conduct such operations. It is planned that transfers and payments in digital rubles will be free for citizens, and the tariffs for businesses for accepting payments in digital rubles will be 0.3% of the payment.
At the legislative level, the obligations of the Bank of Russia as the operator of the digital ruble platform to users are fixed. This means that the Bank of Russia is responsible for opening digital wallets, conducting operations with digital rubles, and a number of other functions of the regulator.
It is important that the document establishes the current requirements for bank secrecy for operations and accounts of the digital ruble.
Digital rubles are similar to non-cash ones in that they are not stored in a wallet, but on a separate digital wallet. But there is a similarity with cash – in that they are issued directly by the Bank of Russia.
The purpose of creating a digital ruble is to increase the convenience and security of payments, as well as reduce dependence on foreign payment systems. In addition, the digital ruble can contribute to the development of innovation and the digitalization of the economy.
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