High‑risk bank customers will not be able to use the digital ruble. This was stated by a senior official from Rosfin, who spoke after the German Neglyad at a roundtable hosted by MGIMO. He emphasized a firm stance: the digital ruble primer will be restricted to a defined audience and will not be open to everyone.
According to the official, the pilot project for introducing the digital currency will operate with a carefully limited circle of participants. Specifically, individuals whose risk assessment is labeled as red on the Central Bank’s Know Your Customer platform will be excluded from access to the digital ruble system. The aim is to maintain stringent controls within the experimental phase while ensuring safety and compliance in financial transactions.
He added that the law clearly requires that high‑risk customers be barred from using the digital ruble platform. This provision will be enforced as part of the regulatory framework governing digital currencies in the country.
Neglyad also noted that the ministry is preparing amendments to anti‑money laundering legislation in collaboration with the regulator. These changes are slated to take effect in 2025. The Central Bank of Russia will take an active role in monitoring suspicious digital currency transactions, mirroring the oversight already applied to traditional banking operations by commercial banks.
It is worth noting that the foundational standards for implementing the digital ruble began to operate across the Russian Federation on August 1. These standards establish the essential operating principles for the new payment instrument and set the groundwork for broader adoption, while maintaining strong regulatory discipline from the outset.
Earlier, both the Bank of Russia and the Ministry of Finance issued their acceptance positions on cryptocurrencies. In particular, they outlined approaches to the use of digital assets in international payments, signaling a cooperative stance aimed at harnessing the benefits of digital currencies while addressing risk and compliance considerations on cross‑border transactions.
The Central Bank had previously issued a stringent assessment of the cryptocurrency market in Russia, underscoring concerns about market volatility and the potential for illicit activity. The current trajectory reflects a measured, cautious approach designed to balance innovation with robust supervision and consumer protection. [Source: Rosfin]