Translation. Region: Russian Federation –
Source: Central Bank of Russia
An important disclaimer is at the bottom of this article.
Companies will be able to make payments in digital rubles based on registers—simultaneous credits to a large number of recipients in a single transfer. This method will be used for paying salaries, settling accounts with suppliers for goods, paying taxes for employees, and so on. This and other innovations are included in draft instructions of the Bank of Russia, which is published for public discussion.
Register-based payments speed up payment transfers, avoid errors in payment details by eliminating the need to enter them individually for each recipient, and significantly simplify document flow and accountants' work. Companies and individuals participating in the digital ruble pilot will be the first to try out the service.
In addition, the platform's rules are supplemented by a new chapter that describes the legal basis for cross-border settlements in central bank digital currencies.
Comments and suggestions regarding the draft directive will be accepted until March 6 inclusive.
As a reminder, the digital ruble is a new form of national currency. It is issued in addition to cash and non-cash funds. Basic transactions with the digital national currency are currently only available to pilot participants. Wider use of the digital ruble will begin in September 2026. Major banks and retailers will be required to provide their infrastructure for this. Citizens will be able to use digital rubles at their own discretion.
Preview photo: SERGEI ILNITSKY / EPA / TASS
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.