Russia begins large-scale integration of digital ruble into budget and banking systems

PANews January 8 News, according to Cryptopolitan citing RIA Novosti, Russia has begun large-scale introduction of the digital ruble into the budget system and banking industry in preparation for the full rollout in September this year. Since the beginning of this year, the digital ruble has been actively used for transactions related to the country’s national interests, and it is now available for transfers to government budgets and payments to federal agencies. Russia has set a phased timetable and deadlines for the promotion of the digital ruble for banks and enterprises, stipulating that by September 1, 2026, Russia’s largest banks and their institutional retail clients must enable customers to use the digital ruble for transactions. The Central Bank of Russia also decided that starting from last week, transactions involving citizens’ and companies’ digital ruble accounts used for paying taxes, fees, and government-related payments will be exempt from fees.