Russia is progressing with its Central Bank Digital Currency (CBDC), the digital ruble, with President Vladimir Putin officially signing the bill into law on 24 July. The law grants the Russian central bank the authority to implement the first CBDC pilot with real consumers in August. The country’s central bank is expected to manage the digital ruble infrastructure and oversee all stored assets. Serving as a payment and money transfer method, the digital ruble will operate as an alternative alongside cash and non-cash rubles. Its use will be optional, with the central bank foreseeing mass adoption no earlier than 2025-2027.
Source: https://cointelegraph.com
