In 2025, the digital ruble will begin to be used for payments within the Russian Federation. This was stated by President Vladimir Putin at the VTB forum “Russia Calling!”, reports TASS.
Regarding the prospects for international operations with the asset, Putin noted that the appropriate infrastructure is being created. It is designed to make payments in rubles more convenient for business and reduce costs.
The Law on the National Digital Currency of the Russian Federation came into force on August 1, 2023. That same month, the central bank launched a CBDC testing program involving a limited number of banks. The initiative was expanded in January.
Regarding Bitcoin, Putin saidthat cryptocurrency is a natural result of the development of new payment instruments. No one is able to ban such assets, the head of the Russian Federation emphasized.
Let us recall that the results of a survey by VTsIOM showed that 59% of Russians are not interested in using CBDC.
Experts have concluded that the costs of introducing a digital ruble may be prohibitive for small financial institutions.
The Ministry of Industry and Trade came up with a proposal to postpone the launch of the asset for two years due to risks for retail chains.
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Source: Cryptocurrency
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