The State Duma adopted in the first reading a package of bills on the digital ruble

The State Duma adopted in the first reading a package of bills on the introduction of the digital ruble. This is evidenced by the data of the Duma electronic database.

The resolution also says that by the second reading, the authors of the initiative must take into account the need to protect the rights of personal data subjects when processing this data on the digital ruble platform. Amendments must be submitted by 14 April.

The bill establishes the concepts of “digital ruble platform”, “digital account (wallet)”, “participant of the digital ruble platform” and “user of the digital ruble platform”. The status of the digital ruble platform operator is assigned to the Bank of Russia, and the regulator will also be responsible for the safety of digital rubles, organizing and ensuring the functioning of the platform.

Together with the main bill, the authors propose to amend the Civil Code, which introduce provisions on the digital wallet and the rules that determine the content of the digital wallet agreement, the procedure and features of its conclusion. The amendments also regulate issues related to debiting digital rubles from such an account.

The authors of the bill are a group of State Duma deputies headed by Anatoly Aksakov, chairman of the committee on the financial market, and a group of senators, including Andrei Klishas and Nikolai Zhuravlev. The document was submitted to the State Duma on December 29, 2022. If adopted, the main provisions of the law will come into force on April 1, 2023.