The project to mandate the use of the digital ruble, a CBDC (Central Bank Digital Currency), passed through the lower house of the Russian parliament. The text sets September 1, 2026, as the official launch date for the currency, but the country appears divided on the new policy.
According to a report from The Block, the bill establishes that merchants with annual revenue exceeding 120 million rubles must accept payments in digital rubles starting September 1, 2026. Medium-sized enterprises will have until 2027 to adapt, and others until 2028.
The law also establishes the creation of a universal payment system via QR code, free of charge, operated by the National Payment Card System, responsible for Russia's Mir network.
To actually come into effect, the project needs to be approved by the Federation Council and President Vladimir Putin, but these steps are considered merely formal.
Unlike Bitcoin, which is decentralized and operates without government control, a CBDC is a digital version of a country's official currency, issued and regulated by the central bank. Supported by the government, the CBDC is the digital equivalent of physical cash.
Survey shows public against CBDC
The project that aims to force the economy to accept CBDC as a means of payment does not have massive public support. A survey conducted by the state institute VTsIOM revealed that 51% of respondents do not intend to adopt the digital ruble, while only 35% stated they would try the new currency.
Four out of ten participants said they see 'no benefit', and concerns ranged from data security (12%) to government surveillance (8%). Only 7% claimed to be well-informed about the project.