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Russia’s Central Bank: BRICS Currency Requires Consent of Many Parties, Faces Implementation Challenges
12.7.2023
The governor of Russia’s central bank says the creation of a common BRICS currency “requires the consent of many parties.” While emphasizing that the proposed BRICS currency “deserves attention,” the Russian central bank chief cautioned that this project is challenging and “will...
Central Bank of Russia: Digital Ruble Could Be Launched as Soon as 2025
8.7.2023
Olga Skorobogatova, first deputy chairman of the Central Bank of Russia, indicated that the launch of the digital ruble, the Russian central bank digital currency (CBDC), could happen in 2025. The pilot test for the CBDC will be organized later this year after the State Duma, the lower house of...
Russian Central Bank OKs ‘Experimental’ Use of Crypto in International Trade – More Crypto Adoption Incoming?
18.4.2023
The Russian Central Bank has said it is prepared to allow trading firms to do international business in a controlled “experimental” environment.
Per RIA Novosti, the Central Bank Governor and long-serving Vladimir Putin ally Elvira Nabiullina has come to terms with the fact that “cryptocurrency...
Russian Central Bank Attributes Recent Ruble Depreciation to Lower Forex Sales by Exporters
12.4.2023
The Russian central bank has attributed the ruble’s latest plunge against the U.S. dollar to the temporary reduction “in sales of foreign currency earnings by exporters.” The central bank also revealed that the Chinese yuan accounted for 39% of the Russian forex market’s...
Russian Central Bank Still Saying No to Use of Crypto in Settlements
10.11.2022
Russia’s Central Bank has thrown another spanner into the crypto adoption plans of the nation’s pro-business Ministry of Finance – by saying it still opposes the use of coins in settlements and “accounting” scenarios....
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New Report: Russian Central Bank Looks to Integrate ‘Digital Assets’ Into its Financial System
8.11.2022
The Central Bank of Russia (CBR) has released a report that focuses on digital assets and how the new technology could be integrated into its traditional financial system.
On Monday, Russia’s central bank shared a 32-pages-long public consultation report titled 'Digital Assets in Russian...
Russian Central Bank Wants to Hire a Crypto Specialist
16.9.2022
Russia’s Central Bank has announced that it wants to hire a “cryptocurrency” expert – a massive turnaround for the bank, which earlier this year proposed a blanket ban on all things crypto-related.
In a post on the Russian job search platform Headhunter (HH), the Central Bank wrote that it...
Russian central bank exec is OK with crypto mining under one condition
30.6.2022
A finance officer believes it is necessary to sell the mined assets abroad to avoid the adoption of crypto in internal payments
Russian Central Bank Ready to Make Crypto Regulation Concessions, Hints Governor
17.6.2022
Russia’s Central Bank chief Elvira Nabiullina has stated that she is prepared to allow the nation to do business in crypto – as long as it does not enter the Russian financial system and is only used in international settlements. But the country’s finance ministry, which favors legalization...
Russian Central Bank Prepared to Make Some Concessions on Crypto Regulation
1.6.2022
Russia’s staunchly crypto-skeptic Central Bank has indicated that it is prepared to soften its stance on crypto somewhat in order to allow a key piece of legislation to pass – but still favors a block on all domestic crypto-related activity....
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Russian central bank signals agreement with crypto law revisions: Report
31.5.2022
A top Russian central bank official said at a press conference that the monetary authority will permit foreign trade with crypto
World Bank Predicts 3% Gold Price Growth, Expert Says a $3K per Ounce ‘Is More Likely Than Not’
30.4.2022
The World Bank has said it expects the price of gold to rise by 3% in 2022 but warned the price might fall sharply if the Russian central bank decides to offload large quantities of the commodity. The Russian Factor After the price of gold surged past the $2,000 mark in early March, a new […]
Russian central bank needs to ease up digital asset projects, governor says
21.4.2022
Elvira Nabiullina is concerned about the Bank of Russia not treating digital asset projects softly enough to attract funding and maintain the economy
US Hits Russian Crypto Exchange with Sanctions, Russian Central Bank Affraid That Crypto Will Replace Ruble
6.4.2022
The United States has hit the crypto exchange Garantex with sanctions, claiming that it has “willfully disregarded” anti-money laundering and countering the financing of terrorism (AML, CFT) obligations and “allowed” its “systems to be abused by illicit actors.” A joint Washington-Berlin effort...
Sberbank Gets License From Russian Central Bank to Issue, Exchange Digital Assets
17.3.2022
The approval comes a short while after the Bank of Russia had advocated for a full ban on the trading and mining of cryptocurrency
Russian Central Bank Claims its SWIFT Alternative Is Ready
28.2.2022
The Russian Central Bank is talking up its SWIFT alternative as they try to go it alone without a way into the international banking network....
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Russian Central Bank Ramps up USD Exchange Rate as Ruble Run Worries Mount
25.2.2022
Russia’s Central Bank is desperately trying to avoid a run on the fiat ruble in response to incoming sanctions measures from the EU, the United States, and their allies. And as the Ukraine crisis deepens, the bank has unleashed yet more extreme measures – which may eventually include freezing...
Russian Central Bank & Government Fail to Agree on Crypto Regulation; New Limits Proposed
15.2.2022
Senior officials from the Russian government and the Bank of Russia, the country’s crypto-skeptic central bank, did not manage to reach an understanding on the means to regulate the Russian cryptoasset market -- while the Deputy Finance Minister now proposes a buying limit for "unqualified...
Russian Central Bank Still Opposes Crypto Regulation Plans
14.2.2022
The race to launch crypto regulations in Russia could still be halted by the country’s Central Bank, which, despite reports to the contrary, is still not happy about recently unveiled plans to “legalize” crypto and bring the industry under a regulatory umbrella. But the pro-business (and...
Russian Regulators Find Common Ground — Bitcoin Can’t Be Used for Payments
13.2.2022
Russian authorities are yet to reach full consensus on the future of cryptocurrencies but government institutions are on the same side of the fence in their intention to ban bitcoin payments. Other operations with digital assets are to be legalized and regulated, representatives of Russian business...