Russia’s State Duma has introduced a bill that requires banks and merchants to use the digital ruble, Russia’s central bank digital currency (CBDC). The bill also mandates banks and merchants to implement a universal QR code system for payments.
Russia’s Push for Digital Ruble Adoption
Starting from July 1, 2025, the bill will be rolled out in phases. It will be first implemented with systemically important banks that focus on national economic stability and will expand to all banks by 2027. Merchants are also expected to embrace digital rubles to boost public adoption of digital ruble.
By July 2025, business merchants with annual revenues over 30 million rubles must allow digital ruble payments, with the threshold down to 20 million rubles by July 2026. The bill will exempt businesses operating in areas without mobile or internet.
Notably, the proposal will also implement a universal QR code system for a seamless digital ruble payment system. The bill is also in sync with amendments to consumer protection laws that makes it necessary for merchants to comply with the digital ruble use.
The bill dictates that digital ruble transfers, including payments to businesses, notaries, lawyers, must use the QR code unless alternative methods are introduced by the digital ruble platform.
These transfers will be implemented by credit institutions and foreign bank branches operating in the platform.
As per the bill, National Payment Card System (NSPK) would be responsible for implementing the universal payment code.
The move was led by several senators and deputies, including Anatoly Aksakov, head of the Duma Committee on Financial Markets. The bill has officially been submitted to the lower house’s electronic database.
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