Non-residents of the Russian Federation will not have access to the digital ruble at the initial stage of the rollout. This was stated by Deputy Chairman of the Central Bank Alexei Zabotkin, according to РБК.
According to him, the speed of adding new users will depend on the success of the asset’s implementation, its demand, and the external economic environment.
«At the launch of the digital ruble, we assume wallets will be opened only for Russian residents,» noted Zabotkin.
He also did not rule out that the Bank of Russia would adjust its cautious stance on the use of cryptocurrencies in international settlements.
At the same time, the regulator’s representative stressed that the only legal means of payment in the territory of the Russian Federation will remain the Russian ruble.
The prototype platform for the digital ruble was launched in January 2022 with the participation of five banks. Together with the regulator they tested the asset’s issuance, the opening of digital wallets, as well as transfers between citizens.
In total, the pilot group included 12 banks.
Testing of the instrument on real operations and clients starts in April 2023. Sanctions against Russia’s banking system prompted accelerating the Bank of Russia’s pilot.
The full-scale launch of the digital ruble as a third form of money is expected by 2030.
After Russia’s invasion of Ukraine and the Western response, the media suggested that Russian companies could use the digital ruble to evade sanctions.
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