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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. China’s digital yuan pilot appears to have had a considerable impact on Moscow’s digital ruble rollout plans. The Chinese project has already expanded to the point whereby citizens in parts of the pilot zone can pay taxes using the digital yuan, with CBDC benefits payments also planned.

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