Russian parliament passes digital ruble bill
The legislation will now move to the upper chamber of the Russian Federal Assembly and, if passed, to the president’s desk.
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Russia Projected to Start Purchasing Chinese Yuan for Its Foreign Reserves as Soon as May
Russia will start to purchase Chinese yuan for its international reserves as soon as this month, according to reports from Russian economists. While analysts state that the purchases will be…
No Rate Hikes in Russia, Central Bank Keeps Interest Rate Level Again
Bank of Russia decided to maintain the interest rate at 7.5% amid moderate inflation, estimated at 2.5% on an annual basis in April, although this may change later this year.…
Russia to Work With Digital Currencies of Other Nations
The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by…
Bank of Russia Has Stockpiled Reserve Comprised of Non-US Sanctioned Assets, Governor States
Elvira Nabiullina, governor of the Bank of Russia, has affirmed the bank has stockpiled reserves in assets that are not susceptible to being affected by U.S. sanctions. The official clarified…
US Treasury Secretary Janet Yellen Acknowledges Sanctions Weaponization Could Hurt Dollar Hegemony
U.S. Treasury Secretary Janet Yellen talked about the dangers that sanctions based on the U.S. dollar might pose for the hegemony of the currency in international markets. According to Yellen,…
Russia delays digital ruble launch testing due to lawmaking process
The participating banks, however, express their readiness to proceed with the CBDC pilot.
Russian Parliament Votes on Bill Opening Door for Digital Ruble
Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and…
Bank of Russia Registers Another Digital Asset Issuer
The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The platform, called ‘Masterchain,’ becomes the fifth ‘information system operator’ in…
Russian crypto advocates urge Putin to stop regulatory hostility
Russia’s existing regulatory stance on the cryptocurrency industry would potentially lead the country to “direct financial losses,” the RACIB argued.