Russian Central Bank Rules Out 2024 CBDC Rollout

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By BitcoinWiki News

Key Takeaways:

– Russian Central Bank insists digital ruble will not be ready for nationwide use before 2025
– 2024 digital ruble activities will remain limited
– Digital ruble pilot currently underway with limited participants, expanding next year
– Russian Finance Ministry stated that all Russians would be able to use CBDC next year
– Ministry wants to fast-track launch of CBDC-powered benefits payments with “marked” or colored tokens
– Government aims to eliminate benefits fraud and misuse of subsidies with “marked” coins
– Central bank will allow citizens to make commission-free P2P transfers with CBDC
– Commission rate for accepting payments in digital rubles for businesses will be minimal at 0.3%
– Ongoing rift between Central bank and ministry on crypto policy, with ministry favoring a more progressive approach and the bank calling for an outright ban.


Russian Central Bank is downplaying talk of a 2024 rollout for its digital ruble, stating that the coin will not be ready for nationwide use before 2025. The bank is ready to expand its existing CBDC pilot but insists that digital ruble activities in 2024 will remain limited. Currently, 600 Russians are trialing the coin in various real-world scenarios, including the Moscow Metro system. The Russian Finance Ministry wants to fast-track the launch of CBDC-powered benefits payments and aims to eliminate benefits fraud and misuse of government subsidies by “marking” coins. The bank will allow citizens to make commission-free P2P transfers with the CBDC but will charge a commission for business-to-business transactions. Despite the ministry’s more bullish statements, there is an ongoing rift between the Central bank and the ministry regarding crypto policy. The bank has previously called for an outright ban on crypto, while the ministry favors a more progressive approach to regulation.

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