Russia may scrap limits on how many digital rubles foreigners can purchase, according to top political chief Anatoly Aksakov. This move could enable non-Russians to buy millions of the central bank digital currency (CBDC) tokens.
Earlier this year, Russia’s central bank governor Elvira Nabiullina had announced monthly limits of 300,000 rubles ($3,070) on digital wallet top-ups. This cap is applied to both citizens and non-residents to minimize fraud risks and assess the banking sector impact.
However, Aksakov suggests removing the cap specifically for foreigners would simplify foreign investment and purchases of Russian digital financial assets. He stated lawmakers recently enabled banks to onboard foreign clients who can now trade Russian digital securities and digital rubles.
Prior to launching its digital ruble pilot last month, the central bank aimed to impose strict limits to control supply risks. However, it has since indicated that some industries may need to transact in significant digital ruble volumes, hence limits could constrain CBDC development.
By removing caps for non-Russians, the country appears to be signaling a more open embrace of foreign digital ruble ownership. The move could provide an inflow of investment and broader adoption for Russia’s CBDC as it competes with rival global digital currencies.
