In the case of the launch of the digital ruble, it is necessary to amend the laws and the Civil Code. This was stated by Anatoly Aksakov, head of the RF State Duma Committee on the Financial Market, Izvestia writes.
According to him, the law will need to introduce the concept of the digital ruble as a new form of money. The law “On the Central Bank” should supplement the functions of the regulator, amendments should also be introduced into the laws “On banks”, “On the national payment system”, “On digital financial assets” and in the Civil Code, added Aksakov.
He stated that the preparation of the amendments will begin no earlier than the second half of 2021.
Before making changes to the laws, the digital ruble should be tested in a pilot mode, the official said.
The Central Bank intends to discuss with the government proposals on the necessary changes to the legislation this year. The regulator will summarize the discussion of the report on the digital ruble with market participants, and then develop a concept and test a prototype of the currency.
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