The Chairman of the Bank of Russia Elvira Nabiullina announced the transfer of the terms of mass implementation of the digital ruble – on July 1, as planned, the digital currency of the Central Bank will not be launched.
Nabiullina told at the event of the Association of Russian Banks that some large market participants like Sberbire, VTB and Alfa Bank were obliged to provide their customers with the opportunity to carry out operations with digital rubles in July. However, the massive implementation of the digital ruble will occur later, since the regulator took into account the requests of bankers about the transfer of deadlines.
The head of the Central Bank said that the new terms of mass implementation of the digital ruble will be named after the participants in the pilot project and the regulator “work out all the details” and hold consultations about the economic model with bankers, which will be most attractive for their customers and business.
Now 13 banks take part in the pilot project to introduce the Russian CBDC: Sber, VTB, Alfa-Bank, Gazprombank, ICD, PSB, Soskombank, “Opening”, Rosbank, T-Bank, Raiffeisenbank, Rosselkhozbank and Unicredit Bank. The remaining banks with a universal license will have to set up work with a digital ruble until July 1, 2026, and banks with a basic license – until July 1, 2027.
Earlier in February, the Central Bank tried to reassure the Russians, saying that the use of the digital ruble would be voluntary, and not forced.
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Source: Cryptocurrency
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