Search Results for: Ruble Rises

Investment Fund Focused on Crypto Mining to Be Created in Russia

by

The establishment of Russia’s first mutual investment fund dedicated to financing cryptocurrency mining operations is underway. According to a report by the Russian press, it will be available to qualified investors and will finance the acquisition of coin minting equipment. Russian…

Remittances to Low and Middle Income Countries in 2022 Up by 5% to $626 Billion — Latest World Bank Report

by

Despite the headwinds that have dominated the year, remittances to low and middle-income countries in 2022 still grew by 5% to $626 billion, the World Bank Migration and Development Brief has said. Africa, where the cost of sending $200 averaged 7.8%…

American Economists Are Baffled by an ‘Unusual Situation’ as Russia’s Ruble Is the World’s Best Performing Fiat Currency

by

Two months after the Russian ruble fell below a U.S. penny, the transcontinental country’s fiat currency is the best performing currency worldwide. American economists are baffled by the “unusual situation” because a country facing stiff sanctions typically sees its fiat currency…

Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs

by

Cryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry. Russian…

Digital Ruble to Help Curb Use of ‘Money Surrogates,’ Russia Says in Financial Strategy Document

by

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…