Digitalising the state monetary system: national implementation model

ABSTRACT The purpose of the study is to identify the features of Russia’s monetary system digitalisation, including an analysis of the national model and approaches to the introduction of digital currency of the Central Bank of the Russian Federation, against the background of existing global practices, the study of global experience in implementing digital technologies in the sphere of payments. The research provides for the development of proposals to improve legal regulation of social relations within the monetary system of the Russian Federation. As this study shows, the national model of digitalisation of the monetary system in Russia has specifics, and the implementation of this project will require further elaboration of its concept in order to identify possible risks and eliminate the shortcomings of the developed model. The implementation of the Russian model will require the formation of a legal framework for the issuance and circulation of the digital ruble.