Russia approves digital ruble into circulation

On July 15, the State Duma (the lower house of the Russian parliament) passed a law on the introduction of a digital ruble into circulation, as well as a universal QR code for paying for goods and services. According to the document, the implementation is carried out in stages.

From September 1, 2026, the largest banks will be the first to offer their customers the opportunity to use digital rubles: to open accounts, transfer funds, pay for goods and services, and carry out other transactions.

All banks will be required to do so by September 2028. The digital ruble will also be rolled out at the largest retail store – one with a turnover of more than 120 million rubles ($1.53 million) a year.

At the same time, the law contains a clause clarifying that sellers with a turnover of less than 5 million rubles per year are not required to accept digital rubles. The same incentive also applies to retail stores in places without Internet and communication connections.

By September 1, 2027, this obligation will be extended to banks with a universal license and their clients - sellers of goods, performers of works and services, owners of aggregated entities with a turnover of more than 30 million rubles per year; and from September 1, 2028 - to other banks and selling entities (performers, owners of aggregated entities).

The law also sets a deadline for the implementation of universal QR codes based on the National Payment Card System (NSPK) solution. This code will allow both buyers and sellers to significantly simplify the cardless payment process and avoid confusion when there are multiple QR codes at the checkout counter.

Using the universal QR code, you can access various payment options: instant payment systems, banking or installment services, and in the future, a digital ruble. At the same time, users still enjoy bonuses and discounts for the chosen payment method.

All banks must complete the preparation of their systems to operate with universal QR codes by September 1, 2026. However, they can do it earlier if they want.

NSPK will provide a free service to provide universal QR codes to banks. This will help reduce their integration costs. The digital ruble will circulate alongside cash and non-cash currencies.

Citizens will be able to create wallets and use the national digital currency through regular applications of banks connected to the Central Bank of Russia's digital ruble platform.

All transactions in the national digital ruble will be free for citizens. Whether or not to use the digital ruble is up to each person to decide.

Since April 2023, the Central Bank of Russia has launched a pilot project to use the digital ruble. As of May 2025, the number of open wallets of individuals and legal entities is 2,500, the number of transactions is 63,000, nearly 13,000 transactions for payment of goods and services have been carried out, and more than 17,000 smart contracts have been signed./.

According to VNA

Source: https://baothanhhoa.vn/nga-phe-chuan-dua-dong-ruble-ky-thuat-so-vao-luu-thong-254980.htm