🙈 Russia🇷🇺: The launch of Russia's CBDC has been postponed indefinitely

🙈 Russia🇷🇺: The launch of Russia's CBDC has been postponed indefinitely

Sanctions continue to exert pressure, while demand for the digital ruble in various market sectors remains strong.

➡️ Deptrans, in collaboration with the Central Bank and VTB, is conducting closed trials where participants have purchased "Troika" cards and topped up their balance with digital rubles using a universal QR code.

➡️ The nationwide launch was originally scheduled for July 1, 2025, but the regulator has determined that the tool needs improvements and has received industry requests to that effect. Currently, 15 banks and 30 companies are participating in the pilot project, although Sberbank is not among them.

➡️ Elvira Nabiullina, President of the Central Bank, stated that further negotiations are needed to define an economic model that is "attractive to banking clients, businesses, and citizens."

➡️ Some experts attribute the delay to the Central Bank's resistance to legalizing cryptocurrencies for international transactions. The digital ruble could move forward once inflation stabilizes and testing of the new cross-border payment technology is complete.

➡️ Additionally, the implementation of a unified QR code is facing obstacles due to opposition from banks, which fear a decline in revenues due to competition.

For now, the development of the digital ruble remains on hold, awaiting key decisions.

#news #Russia #crypto #geopolitics

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