• 01 September, 2024
Regulation News

Russia’s Central Bank Expands Digital Ruble Pilot for Streamlined Budget Payments

The Central Bank of Russia is poised to expand its digital ruble pilot program, potentially integrating new budget-related functionalities. Recent discussions between the bank and the Russian treasury indicate a focus on testing the digital ruble's efficacy in streamlining budget payments. Governor Elvira Nabiullina highlighted the potential for citizen and business transactions with the budget, marking a significant step towards broader adoption. Previously hinted at by Finance Minister Anton Siluanov, the digital ruble's utility in targeted payments such as social aid and subsidies is gaining traction.

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