Russia's Digital Ruble Rollout: Ministry vs. Central Bank
The Ministry of Industry and Trade has asked for more time for smaller retailers to adopt the digital ruble. The rollout is currently set for 1 July 2025, but the ministry wants to push it back to 2027. Meanwhile, the Central Bank of the Russian Federation has proposed an earlier date to speed up digital currency adoption.
The Ministry of Industry and Trade has expressed concerns about readiness and practical challenges in implementing the digital ruble. They believe smaller retailers need more time to adapt.
On the other hand, the Central Bank of the Russian Federation is eager to accelerate the process. They propose starting the rollout in 2025 to modernize the financial system. Both parties agree that larger banks and retailers must support the digital ruble by the initial proposed date of 1 July 2025.
The debate continues between the Ministry of Industry and Trade and the Central Bank of the Russian Federation regarding the digital ruble's implementation date. While the ministry seeks a later date to ensure readiness, the central bank aims for an earlier start to drive digital currency adoption and financial modernization.
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