President Vladimir Putin signed the digital ruble bill as of July 24, according to an official document released by the Russian Government.

President Vladimir Putin signed the digital ruble bill as of July 24, according to an official document released by the Russian Government. With Putin's approval, the digital ruble law is scheduled to come into effect from August 1, 2023. However, all the rules are ready to be implemented, except for one rule.
Article 3, which includes amendments to various Russian federal laws, including those related to bankruptcy and inheritance, is expected to come into force from August next year.
The new legislation also authorizes the Bank of Russia to launch the first CBDC pilot with real consumers in August. Previously, the government planned to launch trials in April in collaboration with 13 local banks, including giant banks such as Sberbank.
According to the newly signed law, the Central Bank of Russia will become the main operator of the digital ruble infrastructure. Responsibility for all stored assets will be held by the central bank.
The digital ruble is expected to function as a third type of currency alongside the cash and non-cash rubles. Russian citizens will not be forced to use the CBDC, and the use of digital rubles will be a voluntary choice left to the discretion of individuals, according to a statement by the Governor of the Central Bank of Russia, Elvira Nabiullina, on July 24.
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