The new form of Russia’s fiat, the digital ruble, will make spending more efficient for both government and family budgets, according to a high-ranking lawmaker. Anatoly Aksakov, who was involved in the recent adoption of the new digital ruble legislation, highlighted some of the advantages of programmable central bank money as he sees them.
Central Bank of Russia to Cap Digital Ruble Payments at CBDC Launch, Aksakov Expects
Russia’s recently adopted digital ruble law allows the Bank of Russia to limit the use of its central bank digital currency (CBDC) and, according to the head of the parliamentary Financial Market Committee, Anatoly Aksakov, the monetary authority will set some restrictions after its initial introduction.
The legislation was passed by the State Duma, the lower house of Russian parliament, last week. On Wednesday, the Federation Council, the upper house of the Federal Assembly of Russia, approved the bill in turn. It will enter into force once it’s signed by Ru
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