Digital Ruble Lands in Tax System as Russia Ramps Up CBDC

Russia ushers taxation rules for digital ruble as the country ramps up CBDC for foreign trade.

Vladimir Putin wearing dark hoodie surrounded by falling crypto coins and red lasers.
  • Russia has adopted a new law for taxing digital ruble transactions.
  • The law covers digital ruble platform operators as well.
  • The Deputy Minister of Finance said the digital ruble would stimulate foreign trade.

The President of Russia, Vladimir Putin, has signed new legislation that establishes rules for taxing digital ruble (CBDC) transactions, according to a report by a local media outlet.

The move comes after Russia’s central bank announced the start of real-world tests of the digital currency with 13 banks and limited clients on August 15 following the enactment of the digital ruble law in July.

Digital Ruble Introduced in Russia’s Tax System

As reported by local media outlet Telesputnik, Putin has signed new legislation dubbed the Tax Code of the Russian Federation, making it possible to establish legal relations related to transactions conducted in the digital ruble.


“According to the new law, tax authorities now have the opportunity to suspend transactions on digital ruble accounts and require the platform operator to provide documents confirming the fact that funds have been written off from the taxpayer’s account and transferred to the budget system of the Russian Federation,” the report stated.

Further, the law establishes the obligations of the digital ruble platform operator and liability for the failure to fulfill them.

Other provisions of the legislation include specific taxations on the digital ruble, such as VAT exemption on opening and maintaining an account and transfer of funds using the digital currency platform.

While keen observers speculate that the digital ruble aims to circumvent the financial sanctions imposed on Russia after its Ukraine invasion, the report clarified that CBDC will “play an important role in international trade.”


Per Deputy Minister of Finance of Russia Alexey Moiseev, the digital ruble “is a tool of foreign trade in the EAU,” thanks to its potential to cut costs and reduce risks in international trade operations.

Read why Binance will end ruble P2P support in Russia:
Binance to End Ruble P2P Support as Part of Russia Exit

Stay updated on how Russia plans to seize crypto and CBDC in bankruptcy cases:
Russia Mulls Seizing Crypto and CBDC in Bankruptcy Cases

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.