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Companies Turn to Crypto for Payments as G7 and EU Mull Sanctions on Russian SWIFT Equivalent
2.6.2024
Some Russian companies have turned to using crypto to settle payments and protect themselves from potential secondary sanctions from Western countries. At least two top metal producers have transacted using USDT, the largest stablecoin in the crypto market, as the G7 and the EU mull more sanctions...
Major Russian Companies ‘Will Be Forced to Accept Digital Ruble Payments’
11.3.2024
Major Russian companies will be forced to accept digital ruble payments as of October 2026, a new report has claimed.
The post Major Russian Companies ‘Will Be Forced to Accept Digital Ruble Payments’ appeared first on Cryptonews
Russia’s Rosbank Launches Crypto Payments Solution for Cross-Border Settlements
5.6.2023
Rosbank has become the first large Russian bank to offer clients an option to use cryptocurrencies in international settlements. The solution, provided in tandem with a Russian fintech, is mostly intended to meet the needs of businesses working with foreign partners. Russian Companies to Be Able...
Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says
14.5.2023
Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature...
Digital Assets for 1 Billion Rubles Issued in Russia in a Month
7.5.2023
Platforms authorized by the Russian government issued digital assets worth around a billion rubles in April, the local press reported. The spike in the volume has been attributed to Russian companies experimenting with new financial instruments amid limited access to traditional capital. Russia’s...
Russian Companies Are Using Crypto in Trade Despite Lack of Regulation, Officials Admit
10.10.2022
With limited access to global finances, Russian businesses have begun settling in cryptocurrency with their partners abroad. Although these are still small-scale payments, government officials have noted their increase, which comes even before authorities have decided how to regulate these...
Ethereum-Based ‘Cryptoruble’ Token Under Development in Russia
18.9.2022
Developers are working on a “cryptoruble” that, as they say, can improve Russians’ access to global exchanges and be used for cross-border payments. Defi platform Indefibank, which is behind the project, says the token will be pegged to the national fiat but independent from...
Russian Businesses to Choose Which Crypto to Use for Cross-Border Settlements, Lawmaker Says
14.9.2022
Russian companies may start transacting in cryptocurrency with partners abroad as early as next year and will be free to pick the coin they want to use, officials in Moscow have indicated. The sanctioned country is preparing to legalize foreign trade settlements with digital assets and this could...
Financial Companies Report First Deal With Digital Assets Under Russian Law
1.7.2022
Two companies have carried out Russia’s first transactions with digital financial assets as defined by the country’s current legislation. The deal involved the tokenization of debt issued by a third party and its subsequent acquisition. Russian Companies Conduct Issue and Placement...
Russian Parliament Adopts Tax Rules for Digital Assets
29.6.2022
Russian lawmakers have approved amendments regulating the taxation of transactions with digital assets. The legislation concerns business operations with cryptocurrencies and tokens. In some cases, the burden for Russian companies will be reduced as compared to foreign entities. Russian Duma Passes...
Russia’s Roskomnadzor Watchdog Blocks 6 VPN Providers
5.9.2021
Russian communications watchdog, Roskomnadzor, has restricted another six VPN providers. The agency says the platforms have facilitated access to information that is banned in the Russian Federation. Roskomnadzor is also whitelisting certain VPN services that operate in accordance with the law...
Russian Companies, Government Losing Interest in Blockchain
25.3.2021
Interest in blockchain technology is falling among Russian companies, a new survey has found.
Per a report from Kommersant, the survey was conducted by Dell Technologies and involved speaking to 200 companies from Russia last year, including firms working in the technology, oil &...
Russian Companies Upbeat about Metals, Oil & Gas Tokenization Chances
5.6.2020
Russian companies remain optimistic about their plans to tokenize the mining and extraction of oil, gas and other natural resources, including precious metals – despite lingering concerns about legislation and regulatory hurdles.
As previously reported, Russia may be sliding toward a crypto...
Russian Companies Pushing Gov’t for Crypto, Blockchain Legislation
3.2.2020
The man charged with putting together a legal framework for Russia’s cryptocurrency and blockchain technology industry has insisted that legislation will be in place before the year’s end, and has hinted that Russian companies are keen to begin blockchain and cryptocurrency operations.
In...
Russian Companies Keen to Flood the Market With Their Own Tokens
2.7.2019
A number of Russian companies are keen on launching tokens of their own, and are waiting on Moscow to make its final decision – with the legislation expected to come before parliament sometime this month, according to Russia’s deputy finance minister.
“A lot of businesses have asked when it will...