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Russia’s Yuan Shift: EBRD Economist Warns of Waning US Dollar Dominance


In a recent interview, the European Bank for Reconstruction and Development’s (EBRD) chief economist, Beata Javorcik, highlighted a notable trend: Russia’s growing inclination to transact in the Chinese yuan. This shift, the economist emphasized, could challenge the dominance of...

Binance fully exits Russia with sale to CommEX


The financial details of the deal remain undisclosed, however as a full exit from Russia, Binance will have no ongoing revenue split, nor any option to buy back shares, the companies said

Russian ‘Crypto Queen’ Reportedly Arrested in Moscow


Police in Russia have reportedly arrested an entrepreneur and “crypto influencer” known as Bitmama, aka the “Queen of Crypto,” on fraud charges. Per Moskvich Magazine and the Telegram-based news networks Baza and Readovka, Valeria “Bitmama” Fedyakina was detained by police on September 15 after...

FBI Wanted Co-Founder of Crypto Exchange Wex Sentenced in Russia


Aleksey Bilyuchenko, co-founder of Wex, the successor of the infamous Russian crypto exchange BTC-e, will spend only a couple of years in prison. The Russian, who is charged in the U.S. with money laundering, has been sentenced in his homeland as the only defendant in a case over the collapse...

Bank of Russia Governor Elvira Nabiullina: ‘Cash Is Not Going Away’


Elvira Nabiullina, Governor of the Bank of Russia, talked about the future of cash in the context of the digital ruble pilot currently being executed in the country. Nabiullina explained that physical money was not disappearing and that the future implementation of the digital ruble was directed...

Russian Central Bank: Digital Ruble ‘Doesn’t Use Biometric Data’


The Russian Central Bank says that its CBDC, the digital ruble, “has nothing to do with” state efforts to collect biometric data. The bank began piloting its CBDC just over a month ago in 11 cities nationwide. Russian MPs last year voted in a law that allows banks and state agencies to collect...

Russian Banks Say Digital Ruble Will Drive up Loan Rates – New CBDC Dangers?


A major Russian banking association has warned that the digital ruble will drive up loan rates as banks struggle to cope with the soon-to-be-issued CBDC. The Central Bank last month launched an 11-city “real-world” CBDC pilot in conjunction with 13 commercial banks. But banking organizations have...

Binance Executive Rejects Comparisons With Collapsed FTX


Richard Teng, the head of regional markets at Binance has stressed that the world’s largest cryptocurrency exchange has no operational similarity with collapsed FTX. Speaking with Andrew Fenton, he addressed multiple issues facing the exchange ranging from regulatory issues, users, and...

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