Tag: Currency

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

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......

IMF Warns Russia Sanctions Threaten to Undermine US Dollar Dominance

Financial sanctions imposed on Russia over its invasion of Ukraine may result in reduced dominance of the U.S. currency, according to a high-ranking official at the International Monetary Fund (IMF). The confrontation could lead to fragmentation of the world’s current monetary......

Bank of Russia Rejects Provision of Crypto-Related Financial Services

Russia’s central bank has voiced opposition to the provision of financial services related to cryptocurrencies. The monetary authority believes such offerings would go against the interests of Russian investors as they are highly risky. Central Bank of Russia Unwilling to Allow......

Central Bank of Turkey Expands Research, Prepares to Test Digital Lira on New Platform

The Turkish central bank has established a new platform together with technology stakeholders to further the development of a digitalized version of the national fiat currency. The new collaboration will allow Turkey to focus on expanding research and conducting tests of......