• The Russian Government and Bank of Russia tested digital ruble in budget settlements.
• The Central Bank aims to launch a digital ruble in July this year.

The Russian government and central bank reported that they successfully tested the CBDC for budget settlements. Apparently, the officials revealed the news one month after the actual trials. The Russian Finance Minister Anton Siluanov has been planning to test and launch the digital ruble for more than a year.

The Russian Ministry of Finance stated that the testing process is going on and revealed no further details. Also, they do not seem to have any plans to make government payments to the local population in CBDCs. As per the previous statements made by Anton Siluanov, they deem the CBDC to be useful for budget funds.

Russia Plans to Launch Digital Ruble in 2025

As per the head of the State Duma Committee on Financial Markets Anatoly Aksakov, the digital ruble could make its debut in Chuvashia. Also, credit institutions in the country will be able to use CBDC transactions from July 2025.

Russian President Vladimir Putin also hinted at the possibility of CBDC transactions in 2025. This further re-confirms the launch of the Russian CBDC this year. The ruble will have three official forms – ruble in cash form, ruble in non-cash form, and digital ruble, after the CBDC launch.

While Russia is prepping to launch a CBDC, the United States has no plans to issue one. Furthermore, the newly signed crypto executive order by Donald Trump strictly prohibited the issuance and promotion of CBDCs.

The White House Crypto and AI Czar David Sacks also agrees stating that CBDCs pose a threat to freedom and liberty in the country. In contrast to CBDCs, US officials focus more on increasing dollar dominance through stablecoins.

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