MOSCOW, July 24. In a significant stride towards the digital revolution, Russian President Vladimir Putin has given his approval to a pioneering law that paves the way for the introduction of the digital ruble. As the document becomes official, Russia will witness a new form of its national currency, which will exist alongside physical cash and non-cash transactions.
The new digital ruble will be facilitated by a state-of-the-art electronic platform, exclusively operated by the Bank of Russia. This revolutionary monetary format will allow for seamless transactions, simplifying payments and transfers for individuals and businesses alike.
However, the law strictly limits the use of digital rubles, expressly forbidding opening bank accounts or obtaining loans in this digital currency. Nonetheless, this step is seen as an important milestone in exploring the potential of cryptocurrencies within the country’s economic landscape.
The law also addresses the issue of inheritance of digital rubles, providing a clear framework for bequeathing such assets through testamentary dispositions. The Russian government, in coordination with the Bank of Russia, will determine the procedure for issuing such orders.
Furthermore, heirs will be permitted to access digital rubles to organize the funeral of the testator, as mandated by the notary.
It is noteworthy that advertising restrictions have been set in place, prohibiting any use of the terms “digital ruble platform” or any related expressions without proper authorization.
As Russia embraces this transformative financial concept, the world will be watching closely to see the impact and potential implications of the digital ruble on the global economic landscape.
