Russian Lawmakers Pass First Reading of Draft Laws for Regulating and Issuing Central Bank Digital Currency
In a major move towards digital currency, Russian lawmakers have passed the first reading of draft laws for regulating and issuing a central bank digital currency (CBDC). The proposed legislation, which was submitted to the State Duma, the lower house of the Federal Assembly of Russia, is aimed at providing a legal framework for the issuance and circulation of CBDCs. The proposed legislation would allow the Bank of Russia, the country’s central bank, to issue and manage CBDCs. The draft laws also provide for the regulation of the issuance, circulation,