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Bank of Russia says rules for digital ruble platform drafted

The platform will operate on a 24/7 basis and process transactions online

MOSCOW, July 12. /TASS/. The main rules for communication between the Bank of Russia as the operator of the digital ruble platform and its participants and users, as well as the requirements for them, have been drafted, the regulator reported on Wednesday.

The Bank of Russia’s draft regulation on the digital ruble is a key document for its introduction, the report said. The regulation specifies the types of digital wallets (digital ruble accounts), outlines the procedure for their opening and closing, and lists possible transactions with digital rubles.

Moreover, the draft describes the procedures for settling potential disputes, reviewing requests and complaints from users, and controlling participants’ compliance with the rules of the platform.

The platform will operate on a 24/7 basis and process transactions online.

Any suggestions and comments regarding the draft regulation are welcome until July 19, 2023, the Bank of Russia noted.

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Central Bank of Russia

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