On the introduction of the digital ruble into the monetary circulation of Russia

Based on the analysis of legislative acts, analytical documents of the Bank of Russia, the study of scientific publications, various aspects of the new form of fiat money introduced into monetary circulation in Russia - the digital ruble - are discussed and analyzed. The place of the digital ruble in the structure of existing forms of digital currencies - electronic and virtual - is presented, their essential characteristics are determined. The legislative basis for the introduction of the digital ruble into monetary circulation is outlined, the analysis of which allows us to conclude that it is necessary to supplement the definition of the digital ruble in the law for a clear correlation of the digital ruble with existing digital currencies. The features of the monetary functions of the digital ruble are highlighted. The characteristics of the digital ruble implementation model adopted by the Bank of Russia are presented, the functions of the participating entities - the Bank of Russia and commercial banks - are defined. Attention is focused on possible risks in the functioning of this model: in the field of monetary regulation, related to cybercrime, with uncertainty regarding the liquidity of commercial banks. The recommendations to commercial banks on the activation of financial literacy of the subjects of present and future customers are substantiated. In conclusion, a design plan for the introduction of the digital ruble into the monetary circulation of Russia is presented.