09:43, 9 February 2021 Page views 294 views

Aksakov: Introduction of digital rouble may require amendments to Civil Code

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The head of the State Duma Committee on Financial Markets also said that the laws “On Banks and Banking” and “On the National Payment System” may require amendments as well, the Izvestia newspaper reports.

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He noted that a pilot test of the digital rouble prototype should be completed before the start of drafting the amendments to the regulations scheduled for the second half of the year.

The Bank of Russia plans to summarize the discussions of the advisory report on digital currency with the market players, the newspaper reports. After that, a concept will be developed and a prototype of the new digital currency will be tested.

The advisory report says that the Civil Code and the Law on the Central Bank are to be amended. Besides, the document proposes a liability for the seamless operation of the information system responsible for the circulation of the digital rouble.

Source: Izvestia