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Russian banks, particularly smaller ones, are unhappy about the high cost (between $1.25 million and $2 million) of integrating with the central bank’s digital ruble platform. This cost is seen…
The Bank of Russia has explained that the launch of the digital ruble, the Russian CBDC, will not affect the state’s mechanisms to control inflation or the amount of money…
The Bank of Russia aims to open the payment infrastructure for the Russian central bank digital currency (CBDC), the digital ruble, by July next year. Larger banks will offer digital…
Russia’s central bank is expanding its digital currency pilot program, involving 9,000 individuals and 1,200 companies. New features for the digital ruble, including payments via QR code, will be tested.…
The Bank of Russia is exploring the use of stablecoins in cross-border transactions, considering them as digital financial assets (DFAs) under existing regulations if they have a responsible entity. The…
Russian President Vladimir Putin has signed a new law to establish experimental legal frameworks to advance digital technologies, particularly cryptocurrencies, in international trade. The legislation allows for the modification of…
Russian President Vladimir Putin has enacted legislation to formally regulate the cryptocurrency mining sector in Russia, with the law set to take effect in November. This legislation establishes a regulated…
Elvira Nabiullina, the governor of the Bank of Russia, declared that she expects the digital ruble, the Russian CBDC, to achieve a high level of acceptance due to the benefits…
Russia plans to launch international cryptocurrency payments by the end of the year to counter Western sanctions, according to the governor of the Bank of Russia. The central bank is…
U.S. Treasury Secretary Janet Yellen has addressed concerns about Russia using cryptocurrency to evade sanctions. During her testimony before the House Financial Services Committee, Yellen acknowledged the potential threat, noting…