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Digital ruble circulation framework defined

July 24, 2023

Vladimir Putin signed Federal Law On Amendments to Articles 128 and 140 of Part 1, to Part 2 and Articles 1128 and 1174 of Part 3 of the Civil Code of the Russian Federation.

The Federal Law establishes a legal framework for the circulation of the digital ruble as a civil rights object.

For this purpose, the digital ruble is defined as a non-cash monetary means. Payments and settlements with digital rubles are to be carried out by way of digital ruble transfers performed by the Bank of Russia using the digital ruble platform in accordance with Russian laws on the national payment system.

July 24, 2023