Central Bank Digital Currencies and Cryptocurrency Laws Set to Change Global Finance in September
Russia's central bank digital currency is set to go live on September 1, marking a major milestone for the country's fintech sector. The digital ruble will be accepted by all 12 systemically important banks and large retailers with annual revenue above 120 million rubles, although individuals are not required to use it.
A recent survey found that 46% of Russians are ready to adopt the digital currency immediately. The launch coincides with the implementation of Russia's first comprehensive cryptocurrency law, which recognizes digital currency as property and creates a licensed exchange market supervised by the central bank.
South Korea is also expanding its CBDC pilot in September, launching Phase 2 of Project Hangang. This will add two regional lenders and introduce government subsidy distribution through tokenized bank deposits. The pilot will test peer-to-peer transfers for the first time, with up to 500,000 users participating across nine banks.
The SEC is holding a public roundtable on September 17 to discuss 24-hour equity trading, covering overnight trading infrastructure, market resiliency, and the opportunities and challenges of expanding trading hours. The UN General Assembly session opens mid-September, adding diplomatic weight to an already busy month for global financial policy.