Russian Lawmakers Pass Digital Ruble Bill as CBDC Rollout Draws Near

Russian lawmakers have approved a bill setting the stage for the rollout of a digital ruble, Russia's central bank digital currency (CBDC). The nationwide launch is planned for September 1, 2026. The law mandates that businesses with annual revenue exceeding 120 million rubles (approximately $1.5 million) must accept digital ruble payments by that date. Medium-sized firms have until 2027, and smaller firms and startups until 2028. The bill also introduces digital ruble QR codes for payments and addresses concerns about internet access in rural areas, exempting vendors without coverage or with low annual revenue (under 5 million rubles or $63,900) from accepting the CBDC. A pilot program involving citizens, businesses, and the Moscow Metro is already underway. While the central bank promotes faster, transparent, and secure transactions with the digital ruble and the Ministry of Finance sees it as a way to reduce fraud, some commercial banks question its necessity, although possible use for cross-border settlements is considered.