The Russian State Duma is developing a bill to apply anti-money laundering measures to the digital ruble platform. The Bank of Russia will be a key player in overseeing and blocking suspicious transactions.

New State Duma Bill

The Russian State Duma is considering a bill on applying anti-money laundering measures to the digital ruble. According to the Financial Markets Committee, it's time to adopt the bill allowing banks to block suspicious transactions. The bill is expected to take effect on January 1, 2025.

Central Bank's Role

The Central Bank of Russia will play a key role in a multi-level anti-money laundering model for the digital ruble. The bank will enforce anti-money laundering measures and monitor transactions. Users will be classified into three risk groups, and the bank can freeze funds in suspicious cases.

Implementation Timeline

The bill was introduced in March by deputies and senators led by Anatoly Aksakov. The primary goal of introducing the digital ruble is to modernize Russia’s financial system. Once approved, the bill's enactment is scheduled for January 1, 2025.

Introducing anti-money laundering measures for the digital ruble will be a significant step towards strengthening Russia's financial system and ensuring user security.