Furthermore, the ministry clarified that this ability to convert wages into digital currency was available to all Russian citizens and occurred at the request of the person being paid.
The institution also revealed that work was already underway to include the digital ruble in the budget process in partnership with the Bank of Russia. This follows a series of changes to the budget code to enable disbursement in this digital currency.
Separately, Anatoly Aksakov, head of the State Duma Committee on the Financial Market, stressed that the current ATM network might be interconnected with the digital ruble platform next year, enabling direct-to-cash withdrawals in ATMs.
“Technologically, yes, it is possible and feasible. In principle, this is not a difficult task, I think it is possible next year,” he stated.
If made possible, this would reduce the friction and allow for seamless movements between the fiat and digital currency platforms, allowing for a broader adoption of the currency.
In September, Bank of Russia Governor Elvira Nabiullina reported that the bank was also making changes to improve the digital ruble user experience, highlighting that the institution cared about the ease of use of the platform to entice its adoption by Russian citizens.
