Russia Gov’t Wants to Use Its CBDC for Tax Collection, Paying Benefits

Russia’s government intends to use the digital ruble to make welfare payments, and wants citizens to use the CBDC to pay their taxes. Per Finam, the Central Bank and the Ministry of Finance say they are “exploring the possibility of using the digital ruble for government payments,” and want to find ways to allow individuals and corporations to pay their taxes in CBDC tokens. The head of the bank’s National Payment System department, Alla Bakina, stated:... Read More: Russia Gov’t Wants to Use Its CBDC for Tax Collection, Paying Benefits