On Tuesday, Elvira Nabiullina, governor of Russia’s central bank, said that the country will have a prototype of its digital rouble platform ready by early 2022 and will roll it out for trial use next year before making a final decision on whether or not to release its own digital currency, according to a Reuters Report

Russian lawmakers are expected to begin work immediately on the necessary legal modifications to the implementation of the digital ruble plan that will accommodate digital currency. According to IzvestiaAnatoly Aksakov (head of the State Duma Committee on the Financial Market) stated that legal modifications will begin once a trial for a central bank’s digital currency (CBDC), is completed.