05.07.2022 18:55 / TASS
The State Duma adopted a law on tax support measures for citizens and businesses The State Duma adopted in the third, final reading a law on a set of measures for tax support of citizens and businesses in the face of sanctions pressure. The document was initiated by the government of the Russian Federation.
05.07.2022 18:51 / TASS
The State Duma adopted a law on the merger of the PFR and the FSS The State Duma at a plenary session on Tuesday adopted in the third reading a bill on the creation of a unified Pension and Social Insurance Fund (Social Fund of Russia), as well as a package of related initiatives, including amendments to the Tax and Budget Codes of the Russian Federation.
05.07.2022 18:41 / TASS
Duma passes IPO/SPO bill in second reading The State Duma adopted in the second reading a bill aimed at developing the institution of public placement of securities on the Russian financial market. The document, which amends the law "On combating the misuse of insider information and market manipulation," was initiated by a group of deputies and senators headed by Anatoly Aksakov, chairman of the State Duma committee on the financial market.
17.05.2022 16:18 / TASS
Central Bank to launch cybersecurity education course The Bank of Russia will launch an educational course on cybersecurity in the 2023-2024 academic year at the Higher School of Economics (NRU HSE), announced Head of the Central Bank of the Russian Federation Elvira Nabiullina, speaking at Junior Pay Tech Forum 2022.
19.04.2022 16:49 / The Bank of Russia
Russian issuers to close foreign depositary receipt programmes A ban on issuing and trading in foreign depositary receipts for Russian issuers’ shares will come into effect on 27 April 2022.
15.04.2022 16:36 / TASS
The Central Bank of Russia rolls out new support measures for the financial sector The Central Bank has prepared a new series of measures to support the Russian financial sector, the regulator said in a release. The CB allowed banks until the end of the year to postpone the formation of reserves for possible losses in respect of assets that have been blocked abroad.
Bank of Russia announces public discussions on digital ruble
13.10.2020 17:35 / The Bank of Russia
Many central banks are discussing the possibility to introduce central bank digital currencies (CBDC). In response to the evolving needs of households and businesses, the Bank of Russia is assessing the possibilities and prospects of introducing a digital ruble. This work will be conducted in close cooperation with the public. In order to encourage an extensive discussion of this issue, the Bank of Russia has published a consultation paper (In Russian; the English version will be released later).
A digital ruble is a digital form of the Russian national currency that will be issued along with the currently existing forms of money (cash and non-cash rubles). Individuals will be able to credit digital rubles to their electronic wallets and use them with the help of mobile or other devices both with and without an Internet connection (that is, online or offline).
Depending on their needs, households and businesses will be able to freely convert their money between forms (digital rubles into cash or bank account, and back). This requires a development of special technologies to enable the offline usage of digital rubles. Provided that, a digital ruble will be able to combine the benefits of cash and non-cash money.
Cutting-edge technologies used to develop a digital ruble will help reduce payment costs, increase financial inclusion and boost further improvement of payment technologies. The Bank of Russia will consider all these aspects, along with the uncompromising information security requirements, in its further work on the digital ruble project when selecting specific functional and technological solutions.
The Bank of Russia deems it crucial to discuss the key aspects, benefits, potential risks, milestones and timeframes for the implementation of the digital ruble project with financial market participants, experts and the general public. We will be happy to hear your answers to the questions posed in the report. Send your comments to cbdc@cbr.ru.