Russia Rolls Out Digital Ruble Amid Ongoing Crypto Ban
Russia is set to launch its digital ruble on September 1, marking a significant milestone in the country's central bank-issued currency. Initially, large telecom companies and systemically important banks will be required to accept the digital currency for payments.
Among the telecoms that have confirmed acceptance of the digital ruble are MTS, Rostelecom, and MegaFon. VimpelCom, however, did not comment on the matter.
The move follows a legal deadline set by law that came into force in July 2025. Retailers with gross revenue above 120 million rubles must accept the digital ruble starting from September 2026, while those with lower revenue will enter in 2027 and 2028, respectively.
The launch of the digital ruble has not changed Russia's stance on decentralized tokens like Bitcoin, which remains banned for direct payments. The Bank of Russia also proposed preserving the veto on stablecoins and similar digital financial assets in domestic settlements.