(Bloomberg) -- The Bank of Russia has proposed launching widespread transactions in the digital ruble with free access to the new payment method for the country’s citizens.
Russia’s biggest banks will have to provide their clients with the ability to conduct digital ruble operations by July 1, 2025, including opening accounts and allowing transfers of money, the central bank said Thursday in a statement. Large businesses should also be ready to accept payments in digital rubles for goods and services using QR codes, it said.
The Bank of Russia sent proposals for legislative amendments to the Finance Ministry. The regulator is currently running a pilot project with 15 banks on the use of the digital ruble that it says will expand the possibilities for payments and transfers in the national currency.
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