Russian Parliament Passes First Reading of Bills for Regulation and Issuance of Central Bank Digital Currency
On April 21, 2021, the Russian Parliament passed the first reading of two bills that could pave the way for the issuance and regulation of a central bank digital currency (CBDC). This marks a major milestone in the country’s efforts to develop a digital currency, and could have significant implications for the global financial system. The two bills, which were introduced by the Bank of Russia, the country’s central bank, would create a legal framework for the issuance and regulation of a CBDC. The bills would also establish a regulatory