The digital Ruble has been approved for implementation with a rollout expected to begin on September 1, 2026. The State Duma of Russia has supported a gradual introduction of this Central Bank Digital Currency (CBDC) based on a recent article by the state-backed Tass published on July 15, 2025.
The law mandates that major firms and banks in Russia must provide digital Ruble services starting next September, with the exception of smaller businesses. The bill has now progressed to the Federation Council for further approval. Once ratified, it will be sent to President Vladimir Putin for final confirmation. These steps are seen as formalities since September 1, 2026 has already been established as the official launch date by the Central Bank for the digital Ruble.
Russian lawmakers pass digital ruble bill, paving way for a 2025 CBDC rollout. Mandatory for all banks, optional for citizens and businesses.
— Coinsensus (@CoinsensusNow) July 17, 2025
This law was spearheaded by Anatoly Aksakov, who has been central in shaping Russia’s cryptocurrency and CBDC policies. The new regulations require large corporations earning more than 120 million Rubles ($1.5 million) to adopt the digital Ruble by September 1, 2026. Medium firms have until September 2027, while smaller businesses have until September 2028.
This legislation also impacts branches of foreign banks operating in Russia.
Digital Ruble QR Codes Mandated for Payments
The new framework requires that digital Ruble payments utilize QR codes, enabling individuals to transfer CBDC tokens to vendors via app-based QR scanning. Merchants must accommodate requests for payments in digital Ruble.
The bill also aims to address online transaction challenges in regions with limited internet access, allowing businesses without adequate connectivity to opt out of accepting the digital Ruble. Additionally, businesses with annual earnings below 5 million Rubles ($63,900) can decide against supporting digital currency transactions.
By implementing a universal QR code, the digital Ruble seeks to enhance safety and convenience in transactional processes throughout the country. The push for the digital Ruble is aligned with a broader initiative to reduce cash dependency and promote diverse financial accessibility.
Sberbank Questions Need for CBDCs
Despite governmental advocacy for the digital Ruble, private banks have expressed skepticism regarding its necessity. Sberbank chief German Graf articulated his doubts about the CBDC’s ability to significantly enhance the country’s economy.
In local media, Graf mentioned, “I don’t understand why an individual needs the option to use a CBDC. And neither do banks. And businesses, too. I still don’t really understand why this is necessary.”
He acknowledged the potential advantage of CBDCs in international settlements, should foreign partners be interested in engaging the Russian CBDC.
The pilot phase for the digital Ruble, which began in 2023, is ongoing. The Russian Central Bank claims that the digital Ruble will expedite, clarify, and secure transaction processes. The Ministry of Finance also suggests introducing the digital Ruble for government-related financial activities to combat fraud and corruption.
Key Takeaways:
- The legislation passed by the Russian State Duma lays the groundwork for a sequential introduction of the digital Ruble with the initial phase set for next September.
- Larger entities will adopt the CBDC first, while medium and small businesses will follow in 2027 and 2028, respectively.
- Scannable QR codes are established as the compliance standard for payments.
