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Opposed to Bitcoin Payments, Bank of Russia Says State Should Not Stimulate Spread of Cryptocurrencies
20.11.2021
Cryptocurrencies are anonymous and the government shouldn’t encourage their spread, the head of Bank of Russia has insisted. The regulator remains firmly opposed to the legalization of bitcoin and the like as a means of payment in the Russian Federation. Bank of Russia Reiterates Negative...
Digital Ruble Poses Risks to Financial Sector and Security, Russian Lawmakers Warn
20.11.2021
Russian parliamentarians have cautioned against risks associated with the introduction of a digital ruble. Among them are the likely increase of competition pressure on banks and new challenges that may arise in the field of information security. Financial Market Committee Sees Threats in Digital...
Digital Ruble Should Not Boost Inflation, Bank of Russia Says
17.11.2021
Bank of Russia is preparing for a prolonged trial of the digital version of the national fiat to ensure this is a “full-fledged ruble,” the head of the monetary authority has emphasized. The regulator has put forward some conditions for the implementation of the new currency project....
Digital Ruble to Give Russians What They Need, Bank of Russia Governor Says
11.11.2021
The digital ruble is what Russian citizens need as it will facilitate inexpensive and reliable payments, the head of Bank of Russia, Elvira Nabiullina, told participants in an international banking forum. The governor also warned that cryptocurrencies and fiat-backed stablecoins create risks...
Russia to Change 13 Laws and Codes for Digital Ruble
8.11.2021
Authorities in Russia are gearing up to amend various pieces of legislation to facilitate the issuing and function of the digital ruble. Officials in Moscow believe this version of the national fiat needs to be regulated separately from other digital forms of money such as cryptocurrencies. Russia...
Digital Ruble to Help Curb Use of ‘Money Surrogates,’ Russia Says in Financial Strategy Document
15.9.2021
The launch of a digital ruble will be among Russia’s key priorities of digitalization this decade, the country’s financial market development strategy has confirmed. The document claims the issuance of a digital national fiat will help the central bank to prevent Russians from using...
Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Committee Chair Says
12.9.2021
Cryptocurrency mining should be registered as entrepreneurial activity and taxed as such, according to Anatoly Aksakov, chairman of Russia’s parliamentary Financial Market Committee. The lawmaker also thinks Russian digital currency regulations need refinement. Amendments Likely to Affect...
Bank of Russia forms first digital ruble testing group
30.6.2021
Twelve Russian banks including Sberbank, VTB and Tinkoff Bank will help the Bank of Russia test the digital ruble in January 2022
Bank of Russia to Launch Digital Ruble Prototype by End of Year
21.5.2021
The Central Bank of Russia (CBR) is preparing to release a digital prototype of the national fiat towards the end of 2021, a high-ranking official has confirmed. Transfers between private individuals will be free of charge with the digital ruble, which is going to have legal tender status on...
21% of Muscovites think crypto and digital currencies will replace fiat in ten years
28.4.2021
According to a recent poll, 14% of Russians think crypto will replace fiat in 10 years, while 39% think it's impossible to give up cash
Russia’s Digital Ruble Model to Get Bank-Friendly Redesign
18.2.2021
Banks had feared being drained of liquidity under the original concept for the digital currency
Russian Mobile Operators Eye Payments Services, Wallets for Digital Ruble
16.2.2021
Some telcos are looking at developing a digital wallet that would link the digital currency to users' mobile phone numbers
Digital Currencies Could Outshine SWIFT System, Says Central Bank of Russia’s Deputy Governor
29.12.2020
The first deputy governor of the Central Bank of Russia (CBR) has been vocal in a recent online meeting, reported by Russia Today (RT), about the topic of digital currencies challenging the SWIFT international payments system and make it redundant. Digital Currencies Could Challenge SWIFT System...
Russia’s Crypto Community Fears Digital Ruble Plan Means ‘Back to USSR’
4.12.2020
Russian cryptocurrency and blockchain association warns the Bank of Russia against the excess centralization of the digital ruble
Ruble or Rubble? Russian Institutions Have Concerns About Proposed CBDC
1.12.2020
Russian banks and financial brokers are worried the digital ruble will be a burden for them
Digital Ruble: Russia Unveils Plans to Test Central Bank Digital Currency
20.10.2020
As China is actively testing its digital yuan, Russia is now planning to build and test a central bank digital currency, the digital ruble. Meanwhile, the Bank of Russia has proposed limiting the amount of bitcoin retail investors can buy. Russia’s Central Bank Plans Digital Ruble The central...
Digital Ruble Can Help Track Government Spending, Bank of Russia Says
13.10.2020
The Bank of Russia proposed a potential CBDC project Tuesday, but wants public comments before proceeding