Are changes in the Constitution of the Russian Federation necessary for the digital ruble?

With the introduction of the digital ruble, the authorities will have to do large-scale work to change the legislation, and,It may be necessary to make amendments toThe Constitution, which states that the only monetary unit in Russia is the ruble, is confident of the vice-president of the Association of Russian Banks, Alexey Voylukov. According to him, the digital ruble is a new form of currency, and not a third type of payment, writes RBC Crypto with reference to Izvestia.

“Otherwise, it should be said that we offermake settlements in rubles in digital form. But the currently generally accepted formulation is exactly calculations using the digital ruble. While the need for changes to the Constitution is a controversial point "- Voylukov emphasized.

He responded to a statement by the head of the State Duma Committee onfinancial market Anatoly Aksakov that the preparation of amendments to the legislation for the introduction of the digital ruble may begin in the second half of 2021.

With the introduction of the digital ruble, changes to the Constitution will not be required, Antonina Levashenko, head of the Russian Center for Competence and Analysis of OECD Standards RANEPA under the President of the Russian Federation, is sure.

According to a teacher at Moscow Digital SchoolDmitry Kirillov, Article 75 of the Constitution provides for the ruble as a monetary unit, and with the advent of the digital ruble, nothing in this part will change, so there is no need to change the Constitution. The Central Bank itself says that the digital ruble will become one of the forms of the ruble along with cash and non-cash, they will be regulated at the level of federal legislation, Kirillov stressed.

Electronic money is regulated by the law onnational payment system, and nothing in the Constitution, not in the law on the Central Bank does not appear, recalled Roman Yankovsky, a member of the Commission on the Legal Support of the Digital Economy of the Moscow branch of the Russian Bar Association. He also does not see the need for major changes in legislation.

In mid-October, the Bank of Russiapresented a report for public discussion, in which he announced that he would study the feasibility of issuing a digital ruble. It should become the third form of money and will be circulated together with cash and non-cash rubles. The decision to release the asset has not yet been made.

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