Russia Readies Digital Ruble Pilot as War Squeezes Economy (1)

Russia is pressing ahead with plans to introduce a digital ruble, joining a growing list of countries to experiment with the electronic currency as it’s wrestling with international isolation over its war in Ukraine.

Legislation to approve creation of the national digital currency was passed by the Federation Council, Russia’s upper house of parliament, on Wednesday. Once it’s signed into law by President Vladimir Putin, the Bank of Russia may begin tests of the digital ruble as soon as next month.

More than half of the world’s central banks are considering or developing digital currencies, according to the ...