Central Bank and the Ministry of Finance for the first time tested with a digital ruble

“As for the budgetary process, we are already working on the use of a digital ruble with the Ministry of Finance and Treasury, at the end of last year we have tested individual operations,” the press service explained.

The RBC Ministry of Finance confirmed that the problem of applying a digital ruble in the budgetary process is being solved, but it was observed that “making any state payment to the population with Digital Rivles” has not yet been provided.

In addition, the Central Bank press service reported the publication that several scenarios to use a digital ruble are being discussed at the level of regional budgets, and credit organizations from different regions of Russia participate in the tests.

In addition, the Head of the State Duma Committee in the financial market, Anatoly Aksakov, added in an interview with RBC that in the near future, an argument on the digital ruble pilot in the budget process of the Republic will begin with the government of Chuvashia.

“There, most likely, technologies, technologies will be discussed: how to organize all this. It will be necessary to select a project or several projects that will be financed at the expense of a digital ruble. For this, the legal entities that will participate in the implementation of the project will also have to open digital accounts, ”said Aksakov.

• The Central Bank launched a pilot project with a digital ruble in August 2023. Now the operations with digital ruble in proof mode are carried out “Sber”, VTB, Alfa-Bank, T-Bank, Promsvyazbank, Soskombank, Rosselkhozbank, Gazprombank and other credit organizations.
• In early January, participants in the financial market informed RBC that several banks considered the introduction of a digital ruble in July and proposed to postpone the launch date of the new currency form by 2026.
• The digital ruble will act as one of the options for the national tax, in addition to cash and money that is not a helmet. Digital rubles will be stored in digital wallets that will open on the platform of the Central Bank. Access to these accounts will be possible through banks and internet banks.