{"id":76771,"date":"2023-04-06T11:48:12","date_gmt":"2023-04-06T08:48:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76771"},"modified":"2025-09-10T19:20:57","modified_gmt":"2025-09-10T16:20:57","slug":"digital-ruble-hits-problems-before-launch","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/digital-ruble-hits-problems-before-launch\/","title":{"rendered":"Digital ruble hits problems before launch"},"content":{"rendered":"<p>The planned April 1 pilot launch of the digital ruble did not go ahead due to the absence of a regulatory framework \u2014 the related bills for the instrument have only passed the first reading. Comnews reports, citing remarks by speakers at the Association of Russian Banks (ARB) congress.<\/p>\n<p>Experts also pointed to a number of problems with the Russian <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDC<\/a>. There was outrage over the central bank\u2019s plan to charge corporates <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-russia-weighs-commissions-on-digital-ruble-operations\">fees for operations with the digital ruble<\/a>. At the same time, the exact amount of the fee has not been defined; it will not exceed that charged by the <span data-descr=\"0.5% of the transfer amount above 100,000 rubles, but not more than 1,500 rubles per transfer\" class=\"old_tooltip\">in the Faster Payments System<\/span>.<\/p>\n<p>In the absence of demand for the digital ruble, experts called the regulator&#8217;s move nonsensical.<\/p>\n<p>They also noted that the security system for the new instrument is not yet ready. According to representatives of the Bank of Russia, anti-fraud measures are currently under development, and it is premature to say anything yet.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/russian-banks-begin-testing-operations-with-the-digital-ruble\">In January 2022<\/a> launch of the digital ruble platform prototype took place, with five banks participating. Together with the regulator they <a href=\"https:\/\/u1f987.com\/en\/news\/central-bank-of-russia-reports-first-digital-ruble-transfers-between-citizens\">tested the asset\u2019s issuance<\/a>, opening of digital wallets, and transfers between citizens.<\/p>\n<p>On 16 March, the State Duma <a href=\"https:\/\/u1f987.com\/en\/news\/package-of-bills-on-the-digital-ruble-passes-first-reading\">approved in the first reading<\/a> a package of bills to introduce the new instrument.<\/p>\n<p>The document enshrines the central bank as the operator of the digital ruble platform. The regulator will be responsible for safeguarding assets, organising and ensuring the CBDC&#8217;s functioning.<\/p>\n<p>A more detailed regulatory framework will be developed by the central bank. In particular, the regulator will set tariffs for the platform operator\u2019s services and the remuneration paid to its participants.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The planned April 1 pilot launch of the digital ruble did not take place due to the absence of a regulatory framework and the instrument itself not being ready.<\/p>\n","protected":false},"author":1,"featured_media":76772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1451,1095,1165],"class_list":["post-76771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-regulation-in-russia","tag-cbdc","tag-digital-ruble"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=76771"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76771\/revisions"}],"predecessor-version":[{"id":76773,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76771\/revisions\/76773"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76772"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}