#TrumpAnnouncesNewTariffs 🛠 The "Stablecoin vs. CBDC" Distinction

While they seem similar, the CBR is making a clear tactical distinction:
Digital Ruble (CBDC): This is a direct liability of the Central Bank. Its mass rollout is slated to begin in September 2026, targeting retail payments and government social payouts.
National Stablecoin: This would likely be a private-sector issuance (e.g., by major banks like Sber or VTB) backed by reserves and strictly overseen by the CBR. It’s essentially "programmable commercial bank money" designed for high-speed B2B and cross-border trade where a CBDC might be too rigid or lack the necessary liquidity hooks.
⚖️ The Regulatory "Teeth"
The CBR isn't just researching; they are preparing a legislative foundation. By July 1, 2026, a new legal framework is expected to be finalized that:
Classifies stablecoins as "currency assets" (meaning you can buy/sell them, but likely still won't be able to buy coffee with them domestically).
Sets 1:1 backing requirements and mandatory reserve transparency.
Introduces strict AML/KYC protocols to ensure these assets don't bypass capital controls.
🌐 The "A7A5" Precedent
It’s worth noting that the market isn't waiting for the CBR to finish its study. As of early 2026, private experiments like the A7A5 (a ruble-pegged token used in the A7 payment system) have already started facilitating "sanctions-proof" trade. The 2026 study is, in many ways, the CBR trying to bring this "Wild West" activity into a controlled, state-supervised corral.