11 Nov 2022 18:42

Russian Digital Development Ministry agrees to be included in digital ruble testing protect

MOSCOW. Nov 11 (Interfax) - The Russian Digital Development Ministry is ready to be included in the Bank of Russia's digital ruble pilot project, Russian Digital Development Minister Maksut Shadayev said at a plenary session of the forum Finopolis.

"Yes," the minister said, responding to a proposal made by Bank of Russia First Deputy Governor Olga Skorobogatova to participate in the digital ruble pilot project.

The Bank of Russia published a consultative report on the digital ruble in October 2020. The regulator is considering the possibility of expanding the monetary circulation system by adding to the two forms of the Russian ruble (cash and non-cash) a third form, digital ruble.

A prototype of the digital ruble site was created in December 2021. Pilot operations began in February 2022. The pilot group includes 12 banks.