Russia's Ministry of Industry and Trade requests two-year extension of digital ruble launch schedule

Russia’s Ministry of Industry and Trade has requested a two-year extension of the timeline for launching the digital ruble, similar to the one offered to small retailers. In October, the Central Bank of Russia published a timeline for launching the digital ruble as part of a bill submitted to the State Duma. The mass rollout date is July 1, 2025. By then, the largest banks and retailers must support the central bank digital currency (CBDC). The July 1 deadline applies to retailers with a turnover of more than 30 million rubles ($274,000). Retailers with revenues between 20 million and 30 million rubles can get an additional year, and small companies can get an additional two years. The ministry noted that there are still no rules for the operation and functioning of the digital ruble, so retailers do not have enough time to prepare and adapt their point-of-sale software. Trade bodies agree with this view. “We consider it necessary to avoid legislation that sets specific deadlines for launching the system at the trade level and provide for a transition period of at least two years, during which companies will carry out the necessary work,” the Association of Retail Companies (ACORT) said in a letter.