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MOSCOW, July 19 Transactions with the digital ruble will take a maximum of ten seconds, follows from the draft regulations developed by the Central Bank and published on the federal portal of draft regulatory legal acts.
The document establishes the procedure for managing risks and continuity of operation of the digital ruble platform. Thus, this platform will be considered functioning if access to it and transactions are carried out around the clock and comply with certain regulations.
The Bank of Russia began working on the creation of a digital ruble in 2021. It is a unique electronic code (token), unlike cryptocurrency, it is issued exclusively by the Central Bank. The digital ruble is backed by gold and foreign exchange reserves and is tied to the value of the national currency. Such rubles will be stored in special digital wallets on the regulator’s platform.
Operations must take place in no more than ten seconds, including:
- transfer of digital rubles;
- replenishment of the account;
- withdrawal of funds from the account.
Platform availability must be at least 99.99 percent.
If operations are stopped for more than four minutes, this will be considered a suspension of the platform.
The draft regulation must undergo an independent review by July 25. The document is expected to come into force ten days after its official publication. At the same time, some provisions — in particular those relating to the registration of incidents regulating the monitoring of levels of significant risks — will come into force on October 1, 2026.