Bill on Digital Ruble Submitted to Russian Parliament – Finance Bitcoin News

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Draft law devoted to the digitalruble submitted to the Russian parliament.

The legislation introduces rules determining how the new form of national fiat will be issued and amends a series of legal acts to facilitate its implementation.A group of Russian lawmakers, led by the Chairman of the Financial Market Committee Anatoly Aksakov, have submitted draft legislation on the digital ruble, the central bank digital currency minted by Russia’s monetary authority. The document suggests legislative changes meant to create the conditions for its introduction.

The proposal aims to amend several existing laws such as the law on “On the National Payment System” to which the members of Duma want to add definitions pertaining to the CBDC. The new provisions assign to the Bank of Russia the role of sole operator of the CBDC platform. They also establish the procedures for opening wallets for the digital ruble and accessing its platform.

Changes to the Federal Law “On Personal Data” allow Russia’s central bank to process personal information without obtaining consent and without the need to notify in advance the Russian authority responsible for protecting the rights of subjects of personal data.

 

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When was the concept for the digital ruble first presented by the Central Bank of Russia?

How does the digital ruble legislation propose to amend existing laws in Russia?

Who will be responsible for operating the digital ruble platform in Russia?

What is the purpose of the digital ruble draft law that has been submitted to the Russian parliament?

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