Russian Parliament Passes Initial Reading of Laws to Regulate and Issue Central Bank Digital Currency
On June 3rd, 2020, the Russian Parliament passed the initial reading of laws that would regulate and issue a Central Bank Digital Currency (CBDC). This move is seen as a major step forward in the country's efforts to adopt digital currencies. The proposed laws would allow the Bank of Russia, the country's central bank, to issue a CBDC. The CBDC would be available to both individuals and businesses, and would be backed by the Russian ruble. It is expected that the CBDC would be used for payments, transfers, and other