Russia delays digital ruble launch testing due to lawmaking process
03/29 08:30
According to Cointelegraph, the rollout of The Bank of Russia’s central bank digital currency (CBDC) pilot is being delayed for an indefinite period. Although all the participants, at least from the banking side, reassure of their readiness to begin the testing.
As reported by the state-owned TASS on March 28, the CBDC pilot won’t start on April 1, as was previously announced, due to the fact that certain legislation has passed only through the first reading in the Russian Parliament, Duma. According to TASS, the legislation may be finally enacted by early May.
The number of private banks that will be participating in the pilot has also changed from 15 to 13. It is known that some of the banks’ workers would become the test participants for CBDC retail payments, as well as one of the largest insurance companies in the country, Ingosstrakh.
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