Russian Banks to Conduct Real Customer Testing for Digital Ruble

It is expected that the process of experimental use of the digital ruble with real customers will begin after the adoption of the legislation and regulatory framework for this process at the end of April-May of this year.

And several Russian banks announced their readiness and willingness to start testing the digital ruble on the ground.

It was planned to start testing payments with digital rubles in practice from April 1, 2023, but the legislative framework for this is not yet ready – bills on the digital ruble passed the first reading only in the State Duma. For its part, the Central Bank of the Russian Federation confirms that the process of testing the digital ruble will begin only after the adoption of the legislative framework for this.

Later, Anatoly Aksakov, chairman of the State Duma Financial Market Committee, said that the start of the digital ruble test would have to be postponed, since the legislative framework for its implementation was not yet ready, and it might not be implemented as part of an experimental law.

The parliamentarian noted that, most likely, the law on the digital ruble will be adopted in April and will enter into force in May.

Initially, the Central Bank of the Russian Federation planned to start testing with the participation of 15 banks. Later, the Central Bank administration announced that 13 banks had confirmed their technical readiness and would participate in an experiment on real transactions with a limited number of customers.

Source: TASS

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