Digital Ruble Set for Launch by September 2026 as Law Passes in Duma

The State Duma of the Russian Federation has passed a law in its third reading, establishing the introduction of the digital ruble into circulation starting from September 1, 2026. This was reported by Interfax.

From the specified date, banks will be required to offer their clients the ability to conduct transactions using the national digital currency. By September 1, 2028, this functionality must be available in all credit institutions, and all merchants are mandated to accept payments in this digital currency.

The only exceptions will apply to retail establishments with annual revenues of less than 5 million rubles and those operating in areas without internet and communication access.

For transactions involving the CBDC, a universal payment QR code will be introduced, excluding cross-border transactions. The operator will be the Joint Stock Company “NSPK,” but charging fees for its services will be prohibited.

The law outlines technical requirements for the operator regarding the publication of connection rules and the procedure for generating the code.

The foundational law for the Russian digital ruble took effect on August 1, 2023. It was anticipated that major Russian banks would enable access to digital ruble transactions for clients by July 1, 2025.

Additionally, it’s worth noting that in May, President Vladimir Putin signed a law extending AML regulations to participants of the national digital currency platform. Initially, the document proposed centralized oversight of asset transactions by the Central Bank, but the final version divided this responsibility between the regulator and commercial banks.