Bank of Russia reveals digital ruble’s logo and commission fees

Russias main bank digital currency (CBDC) job established by the Bank of Russia (BoR) has revealed its main logo design. The reserve bank has actually also published commission fee rates, which would surpass no points just in 2025. The logo of the digital ruble. Source: The Bank of RussiaOn Aug. 3, the BoR exposed the corporate identity of its digital currency– the digital ruble. A worldwide ruble symbol in a circle, the logo design comes in four fundamental color mixes: red and white or black and white. Together with the logo, the BoR provided the commission costs for different operations with the CBDC. Until completion of 2024, all services will be free of charge, but beginning with 2025, business-to-business transactions will cost 15 rubles ($0.16) each, while people would pay 0.3% of the overall deal sum when moving to commercial accounts and 0.2% when paying for civil services. Related: Russian CBDC by 2025? Whats occurring with the digital rubleRussian President Vladimir Putin signed the digital ruble costs into law on July 24. The CBDC was formally scheduled to go survive on Aug. 1, 2023, starting with a pilot phase with thirteen local banks. The BoR will be the principal operator of the digital ruble facilities. The currency will work as a payment and transfer technique. People will not be forced to use the CBDC, as it will run along with cash and non-cash rubles, BoR Governor Elvira Nabiullina recently defined. According to BoR deputy governor Olga Skorobogatova, the regulator does not expect mass adoption of the digital ruble in Russia prior to 2025 or even 2027. Personal digital currencies remain largely uncontrolled in the nation as Russian legislators are continuing to hold off the introduction of cryptocurrency legislation. State Duma member Anatoly Aksakov assured to pass 4 costs related to crypto mining, taxation and international settlement of crypto in May 2023. Publication: Deposit risk. What do crypto exchanges actually make with your cash?

Source: The Bank of RussiaOn Aug. 3, the BoR revealed the business identity of its digital currency– the digital ruble. Whats occurring with the digital rubleRussian President Vladimir Putin signed the digital ruble expense into law on July 24. According to BoR deputy governor Olga Skorobogatova, the regulator doesnt anticipate mass adoption of the digital ruble in Russia before 2025 or even 2027.