Russian Banks Begin Testing Digital Ruble Payments
Banks in Russia are preparing to dive into the pilot phase of the digital ruble project and some are already testing transactions with the currency. Trials have started with customer-to-customer…
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Bank of Russia Sees No Place for Crypto in Financial Market, Finalizes Digital Ruble Prototype
In advance of presenting its comprehensive view on crypto regulations, the Central Bank of Russia has indicated that it sees no place for cryptocurrencies in the country’s financial market. The…
Prosecutor General’s Office Wants to See ‘Cryptocurrency’ in Russian Law
The Prosecutor General’s Office of the Russian Federation has insisted that the term “cryptocurrency” should be added to the country’s legislation. The move would allow authorities in Moscow to confiscate…
Russians to Pay Fees on Digital Ruble Transactions, Central Bank Says
Users of Russia’s central bank digital currency are going to pay a fee for each transaction, a high-ranking representative of Bank of Russia has recently announced. The digital ruble charge,…
Opposed to Bitcoin Payments, Bank of Russia Says State Should Not Stimulate Spread of Cryptocurrencies
Cryptocurrencies are anonymous and the government shouldn’t encourage their spread, the head of Bank of Russia has insisted. The regulator remains firmly opposed to the legalization of bitcoin and the…
Digital Ruble Poses Risks to Financial Sector and Security, Russian Lawmakers Warn
Russian parliamentarians have cautioned against risks associated with the introduction of a digital ruble. Among them are the likely increase of competition pressure on banks and new challenges that may…
Digital Ruble Should Not Boost Inflation, Bank of Russia Says
Bank of Russia is preparing for a prolonged trial of the digital version of the national fiat to ensure this is a “full-fledged ruble,” the head of the monetary authority…
Digital Ruble to Give Russians What They Need, Bank of Russia Governor Says
The digital ruble is what Russian citizens need as it will facilitate inexpensive and reliable payments, the head of Bank of Russia, Elvira Nabiullina, told participants in an international banking…
Russia to Change 13 Laws and Codes for Digital Ruble
Authorities in Russia are gearing up to amend various pieces of legislation to facilitate the issuing and function of the digital ruble. Officials in Moscow believe this version of the…
Digital Ruble to Help Curb Use of ‘Money Surrogates,’ Russia Says in Financial Strategy Document
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…