Search Results for: CBR

Digital Assets Worth 2 Billion Rubles Issued in Russia in Less Than a Year

by

Digital financial assets (DFAs) for a total exceeding $26 million have been issued in Russia in the past year. This new market has been developing since it was regulated in 2021 and the country’s monetary authority started licensing issuers in the…

Bank of Russia to Promote Digital Ruble in Foreign Trade as Finance Ministry Pushes for Crypto Option

by

Days after the two institutions agreed on the need for cross-border crypto payments, the finance ministry and the central bank of Russia are once again highlighting their different priorities. While the treasury department aims for legalizing cryptocurrency payments in the coming…

Russia Can’t Do Without Cross-Border Crypto Payments, Consensus Reached

by

Key government institutions have agreed that Russia needs to legalize crypto payments for international settlements. The proposal has been gaining support in the past few months since Moscow’s decision to invade Ukraine was met with wave after wave of Western sanctions….

Bank of Russia Eases Restrictions on Purchases of Dollar and Euro Cash

by

The Central Bank of Russia has relaxed some limitations for Russian banks selling U.S. dollars and euros to the public. The increased supply of foreign cash may affect the crypto market in the country as currency restrictions have been a driver…

Bank of Russia Aims for Full Launch of Digital Ruble in 2024

by

The Central Bank of Russia plans to begin the comprehensive implementation of the digital ruble two years from now, according to a paper detailing its monetary policy priorities for the 2023 – 2025 period. As the development of the state-issued digital…

Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad

by

The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the…

Bank of Russia Seeks to Allow Stock Exchanges to Trade Digital Assets

by

The Central Bank of Russia has recently proposed authorizing traditional stock exchanges to operate in the digital assets market. Industry watchers say the regulator aims to provide investors with an option to trade cryptocurrencies in a controlled environment. Russian Stock Exchanges…

Bank of Russia to Pilot Digital Ruble Settlements in 2023

by

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….

Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

by

The Central Bank of Russia has emphasized the importance of moving forward with its digital ruble project. According to a statement by a top representative, the monetary authority has no intention to delay the trials despite not all invited banks being…

Russia’s Finance Ministry Submits Bill to Legalize Crypto Investments, Ban Payments

by

Russian Ministry of Finance has prepared and submitted a new bill to expand crypto regulations to the government. The law “On Digital Currency” aims to introduce rules for investment in cryptocurrencies while at the same time cementing a ban on their…