The Bank of Russia spoke about fees for transactions with the digital ruble – Bits Media

Director of the Department of Financial Technologies of the Bank of Russia Kirill Pronin said, that digital ruble commissions will be comparable to commissions for transfers to SBP.

Kirill Pronin at the forum “Russian Banking System”: ensuring the availability of services and resources in conditions increasing risks"
reported, that fees for transactions with the Central Bank digital currency will be lower than fees for non-cash transfers in the banking system and definitely not higher, than in the Fast Payment System (SBP).

“We assume, that commissions from transactions with the digital ruble will be lower, than existing commissions for non-cash transfers of market participants and will definitely not be higher, than commissions within the framework of transactions in the Faster Payment System".

The format of the state digital currency has not yet been finally approved. Planned, that it will be implemented as a unique cryptographic code, which is stored in a special digital wallet. According to government plans, The digital ruble will be used to purchase goods and services similar to the regular ruble. The Central Bank of Russia plans to begin testing a prototype of a digital state currency in January 2022 of the year, and now work is underway to create it. At the same time, a regulatory framework is being prepared to regulate the circulation of the digital ruble.

Recently, the Chairman of the Bank of Russia, Elvira Nabiullina, announced, that the state digital currency will be introduced in Russia only if it is freely convertible into cash and non-cash forms of the Russian ruble. Parliamentary committees of the Russian Federation, despite the fact, that they agree with the launch of the Central Bank digital currency, consider, that banks and information security of Russia will suffer from its implementation.