Russia made digital-ruble transactions available from Sept. 1 as Prime Minister Mikhail Mishustin said cryptocurrency circulation had also become legal under legislation signed by the president. The rollout advances a domestic payment system that Mishustin described as convenient, fast and independent, while Bitcoin and other cryptocurrencies remain prohibited for payments. An August law requires crypto exchanges to be registered, caps retail investors' trading in liquid cryptocurrencies at 300,000 rubles ($3,556) annually and leaves qualified investors unrestricted. The digital ruble is a central bank digital currency (CBDC) built on a hybrid model combining a Bank of Russia-controlled central ledger with distributed-ledger components.