The Problem of Integrating the Digital Ruble into the Russian Economy

The subject of the study is the process of introducing the digital ruble in the Russian Federation, including its legal, technological and economic aspects, in the context of the global experience in the development of digital currencies. The methodological basis of the research was a system of general and particular methods of scientific cognition. In carrying out the research, the generally accepted principles of dialectics were used as a doctrine of universal connection and development, and the following general scientific and private scientific methods of cognition were used: system-structural, functional, formal-logical, logical-legal, comparative-legal, inductive and deductive, analysis and synthesis, observation, comparison, generalization, and others. The scientific novelty lies in a comprehensive analysis of the Russian model of the central bank's digital currency against the background of international prototypes, a proposal to include the digital ruble in the M1 monetary unit and identify its unique position as a hybrid instrument between cash and non-cash money. The introduction of the digital ruble, based on a two-tier retail model, is aimed at improving the financial infrastructure and increasing financial inclusion. The pilot project faces challenges such as risks to the liquidity of the banking sector and the need to address issues of integration into the budget process. The widespread use of the digital ruble requires a balanced approach to maintain macroeconomic stability.

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