Rules for digital ruble platform drafted
The Bank of Russia’s draft regulation on the digital ruble is a key document for its introduction. It stipulates the main rules for communication between the Bank of Russia as the operator of the platform and its participants and users, as well as the requirements for them.
The regulation specifies the types of digital wallets (digital ruble accounts), describes the procedure for their opening and closing, and lists possible transactions with digital rubles.
In addition, the draft describes the procedures for settling potential disputes, reviewing requests and complaints from users, and controlling participants’ compliance with the rules of the platform.
The platform will operate on a 24/7 basis and process transactions online.
The Bank of Russia welcomes any suggestions and comments regarding the draft regulation until 19 July 2023.