The Central Bank of the Russian Federation enters a digital ruble into the banking plan of accounts – Bits Media

The Central Bank of Russia continues to prepare a regulatory framework for using a digital ruble - the concept of digital assets is entered into the draft new plan of accounting accounts for credit organizations.

According to the document, Starting next year, financial organizations in Russia will have to reflect a number of new positions, including, Work with digital ruble and digital financial assets.

Moreover, so far the banks will only have to report the amount of assets in digital ruble (check 20213). For financial assets, several accounts are introduced in the sections “Acquired Digital Financial Assets” (531) and "released digital assets" (532).

Banks in Russia will not be able to produce or destroy the digital ruble - they will only be operators for transferring funds in state cryptocurrency. The Central Bank of the Russian Federation will be responsible for the release and storage of digital rubles. Commercial banks will only provide access to the wallet for digital rubles and transfer funds.

Earlier, the chairman of the State Duma Committee on the Financial Market Anatoly Aksakov said, that the digital ruble is planned to be used for international calculations with China. This will help reduce dependence on the US dollar and other currencies of unfriendly countries.