Russia’s President Vladimir Putin signed the digital ruble bill into law on July 24 allowing the country’s central bank to issue its own digital currency. According to a report in Coindesk.com, the law will allow the central bank to use it for payments along with other methods, according to the new amendments to Russia’s Civil Code. The digital ruble accounts will be managed by the central bank, the law says. The bill had been passed by the Duma on July 11.
The Bank of Russia sees the digital ruble as a tool against sanctions and a way to control government expenditures.
