Bills on the digital ruble adopted in the first reading

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The State Duma adopted in the first reading a package of bills on the introduction of the digital ruble. They write about it Vedomosti.

Document assigns the status of the operator of the digital ruble platform to the Central Bank. The regulator will be responsible for the safety of assets, organization and operation of the CBDC.

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By April 14, the authors of the initiative must prepare amendments to ensure the protection of the rights of personal data subjects when they work with the system.

Along with the main bill, the deputies propose to amend the Civil Code. They relate to the provisions on the digital wallet and the rules that determine the content of the digital wallet agreement, the procedure and features of its conclusion. The amendments also regulate the issue of debiting funds from the account.

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The presented draft law on the digital ruble is of a framework nature, the Central Bank will develop a detailed regulatory framework. In particular, the regulator will set tariffs for the services of the platform operator and the amount of remuneration paid to its participants.

Recall that the launch of the prototype of the digital ruble took place in January 2022 with the participation of five banks. Together with the regulator, they tested the release of an asset, the opening of wallets, as well as transfers between citizens.

A pilot project using real digital rubles is promised to start in April 2023.

Source: Cryptocurrency

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