State Duma adopts digital ruble amendments to Civil Code

MOSCOW. July 13 (Interfax) - Amendments to the Russian Civil Code, which introduce terms concerning the digital ruble into the legal space, have passed their third reading in the State Duma.

A group of State Duma MPs and Federation Council members submitted a package of bills on the digital ruble to parliament at the end of December 2022. The package includes amendments to certain laws and the Civil Code. The primary bill passed its third reading in the State Duma on Wednesday.

The amendments to the Civil Code define the digital ruble as an object of civil rights (previously, digital rights were included in the civil rights category). The amendments say that settlements in digital rubles will be carried out by means of Russian Central Bank transfers on a special platform consistent with Russian laws on the national payment system.

The bill will take effect on August 1, 2023.