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Russia Expands Digital Ruble Pilot With New Features: Widespread Use Expected in 2025

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.…

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Russian Economy Sees Growth Despite Western Sanctions and Declining Imports

The Russian economy has experienced substantial growth across various sectors, with unemployment rates remaining historically low, despite ongoing Western sanctions related to the Ukraine conflict. Industrial production, driven by military…

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Russia Set to Launch Crypto Payment Trials Next Week, Report

Russia is reportedly set to start trials for cryptocurrency exchanges and digital token payments on Sept. 1 to mitigate payment difficulties caused by international sanctions. These trials will involve the…

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Latam Insights Encore: El Salvador’s Proposal Opens the Door for Crypto-Based International Settlements

Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency-based news from last week. In this edition, we discuss the recent proposal from El…

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BRICS Advances Toward Independent Digital Payment Platform, Russian Official Says

The BRICS economic bloc is progressing towards a digital payment platform, Russia’s Federation Council Speaker Valentina Matviyenko has revealed. The initiative, named BRICS Bridge, aims to establish an independent financial…

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Iran Backs Russia on BRICS Single Currency Initiative

Iran plans to support Russia’s initiatives on creating a BRICS single currency and expanding national currency payments within the bloc, according to Iran’s Ambassador to Moscow, Kazem Jalali. The BRICS…

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Russia to Initiate Crypto Payments Internationally by Year-End, Central Bank Governor Says

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…

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US Treasury ‘Very Attentive’ to Russia’s Use of Cryptocurrency, Yellen Says

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…

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Lithuania Fines Crypto Firm $10M for Russian Sanctions Violations

The Lithuanian Financial Crime Investigation Service (FNTT) has fined the crypto firm Payeer nearly 9.3 million euros ($10 million) for international sanctions violations and anti-money laundering (AML) breaches. Specifically, Payeer…

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