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Crypto Payments Possible if They Don’t Penetrate Russia’s Financial System, Central Bank Says
17.6.2022
Cryptocurrencies can be used for international payments if they don’t penetrate the Russian financial system, the head of Bank of Russia has stated. The governor also insisted that the digital assets should not be traded on platforms operating inside the country. Bank of Russia Chair Ready...
Bank of Kyrgyzstan Issues Warning About Cryptocurrencies, Crypto Payments
16.6.2022
Amid the growing popularity of cryptocurrencies in Kyrgyzstan, the country’s central bank has reminded citizens about the risks associated with the digital assets. The monetary authority also warned that crypto payments are illegal in the Kyrgyz Republic. National Bank of Kyrgyzstan Urges...
Russia Developing Sandbox for Cross-border Crypto Payments
15.6.2022
An institute facilitating Russian exports is now working on the establishment of a sandbox for international crypto payments, local media reported. The goal is to identify potential regulatory and technological challenges for settlements with digital assets. Russia Prepares to Test Crypto Payments...
Russia’s Industrial Giant Rostec Announces Blockchain-Based Alternative to SWIFT
4.6.2022
Rostec, the Russian manufacturing and technology conglomerate, has developed a system allowing the processing of international settlements and storage of digital currency. The blockchain-based platform has been announced as an alternative to SWIFT, which is unavailable for some Russian banks....
Tough Crypto Law Expected in Russia Despite Central Bank’s Softer Stance on Crypto Payments
2.6.2022
The bill “On Digital Currency,” meant to comprehensively regulate crypto transactions in Russia, will be a “tough” law, according to the head of the State Duma Financial Market Committee. The legislation is yet to be finalized and will not be reviewed by lawmakers in...
Provision Allowing Cryptocurrency Payments in Foreign Trade Added to Russian Bill
29.5.2022
A proposal to permit companies to use cryptocurrency in cross-border settlements has made its way to a draft law designed to regulate Russia’s crypto space this year. According to a press report, the finance ministry has introduced a number of revisions to the legislation it has been working...
Russia Considers Using Cryptocurrencies for International Settlements
28.5.2022
Authorities in Russia are mulling over the possible use of digital currencies for international payments, a high-ranking official from the finance ministry has indicated. If recognized as property, he noted, cryptocurrency can be utilized in barter deals with foreign partners. Finance Ministry...
JPMorgan Foresees Increased Blockchain Use in Finance — Prepares to Offer Related Services
27.5.2022
JPMorgan expects blockchain use in finance to increase as the crypto sector grows. The global investment bank says, “We want to make sure that we are able to not only support that but also be ready to provide related services.” JPMorgan’s Blockchain Plans JPMorgan Chase &...
Russia’s First Digital Financial Assets Expected This Year, Lawmaker Says
18.5.2022
The first digital financial assets based on Russian blockchains may be issued as early as this year, a high-ranking parliamentarian announced. Three platforms are already registered as issuers, said Anatoly Aksakov, who chairs the Financial Market Committee at the State Duma, the lower house...
BIS: 9 out of 10 Central Banks Worldwide Are Exploring Digital Currencies — Driven by Crypto Market
10.5.2022
Nine out of 10 central banks globally are exploring central bank digital currencies (CBDCs), according to the latest survey by the Bank of International Settlements (BIS). Furthermore, “the emergence of stablecoins and other cryptocurrencies have accelerated the work on CBDCs.”...
Bank of Russia to Pilot Digital Ruble Settlements in 2023
25.4.2022
Russia’s monetary authority intends to conduct the first settlements with the digital ruble next year, its governor announced this week. Speaking to Russian lawmakers, the official highlighted the important role the new currency is going to play for Russia under sanctions. Russia to Trial...
Russian Chamber of Commerce Suggests Using Cryptocurrencies in Settlements With Africa
14.4.2022
Employing crypto in cross-border payments is one of the proposals put forward by the Russian Chamber Of Commerce lobbying for more cooperation with African countries. Amid unprecedented sanctions limiting Russia’s ability to trade internationally, the head of the board has urged...
Central Banks Struggle With Privacy-related CBDC Headaches
13.4.2022
As a number of countries across the globe are working on developing their respective central bank digital currencies (CBDCs), ensuring a separation between identity and transaction data could produce a better environment for privacy protection and could lead to public confidence and trust...
‘New Inflationary Era’ Upon Us, Central Bank Action Will be Unpopular – BIS’ Carstens Warns
5.4.2022
The return to inflation in the world means that real interest rates need to rise into positive territory, but with historically high levels of debt, such a move by central banks will not be popular, the Bank for International Settlements’ (BIS) head Agustín Carstens warned....
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DeFi Could Rely On CBDC, But More Bridges With Centralized Finance Are Needed - Expert Panel
5.4.2022
As decentralized finance (DeFi) and central banking share a number of objectives, building bridges between decentralized and centralized finance (CeFi) could open up new possibilities for the use of central bank digital currencies (CBDCs) , according to the participants of a debate held by...
DeFi ‘Crucial’ for Financial Inclusion, CBDCs Still Welcome Despite Being Centralized
4.4.2022
Decentralized finance (DeFi) protocols are “crucial” for financial inclusion, particularly in the developing world. And despite being inherently centralized, central bank digital currencies (CBDCs) are a welcome part of that, said the participants at a discussion hosted by the Bank...
Russia May Accept Bitcoin for Gas Exports, Lawmaker Says
24.3.2022
Russia is moving away from the dollar and the euro as payment options for its energy exports, and bitcoin has been mentioned as a possible substitute alongside the ruble and the national currencies of partnering countries. A high-ranking parliamentarian has indicated that Moscow may take...
Cambridge Centre for Alternative Finance Launches Digital Assets Research Project With 16 Banks
2.3.2022
On Tuesday, Cambridge Centre for Alternative Finance (CCAF) at Cambridge Judge Business School announced a new research initiative focused on the “growing digital asset ecosystem.” According to CCAF, the newly launched collaborative effort involves 16 financial institutions such...
YouTube NFTs, MicroStrategy to Keep Buying Bitcoin + More News
25.1.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Read More: YouTube NFTs, MicroStrategy to Keep Buying Bitcoin + More News
BIS Claims a CBDC Interoperability Victory – While US Congressman Bids to Block Digital USD
13.1.2022
The Bank for International Settlements (BIS) says it has made another breakthrough in its central bank digital currency (CBDC) interoperability project – claiming that it has “successfully tested” the integration of wholesale CBDC settlement with commercial banks....
Read More: BIS Claims a CBDC...