According to Tass, the digital ruble has been available for transactions since September 1
In Russia, the use of cryptocurrencies, including Bitcoin, as a means of payment has been illegal since 2022. The digital ruble has instead been available for transactions since September 1, according to Tass.
Prime Minister Mikhail Mishustin linked the initiative to the development of a convenient, fast and independent payment infrastructure.
A law signed by the president in August regulates the circulation of digital currencies and digital rights. Only registered entities can operate as exchanges. Retail investors can trade Bitcoin and other liquid cryptocurrencies up to 300,000 rubles per year, while qualified investors do not face this limit.
The Bank of Russia chose a hybrid architecture for the digital ruble, with a centralized registry under its control and components based on distributed ledgers. Full technical details have not been published.
