Bank of Russia Says Stablecoins Are Not Suitable for Settlements
The Central Bank of Russia has spoken out against stablecoins, which it says are highly risky and not fit for payments. The monetary authority reacted to a statement by a…
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Russia’s Finance Ministry Supports Circulation of Stablecoins in Country
The Russian Ministry of Finance is ready to back the legalization of transactions with stablecoins in Russia, according to a high-ranking representative. While the ministry recognizes that cryptocurrencies could lay…
Crypto Payments Possible if They Don’t Penetrate Russia’s Financial System, Central Bank Says
Cryptocurrencies can be used for international payments if they don’t penetrate the Russian financial system, the head of Bank of Russia has stated. The governor also insisted that the digital…
Bank of Kyrgyzstan Issues Warning About Cryptocurrencies, Crypto Payments
Amid the growing popularity of cryptocurrencies in Kyrgyzstan, the country’s central bank has reminded citizens about the risks associated with the digital assets. The monetary authority also warned that crypto…
Russia Developing Sandbox for Cross-border Crypto Payments
An institute facilitating Russian exports is now working on the establishment of a sandbox for international crypto payments, local media reported. The goal is to identify potential regulatory and technological…
Russia’s Industrial Giant Rostec Announces Blockchain-Based Alternative to SWIFT
Rostec, the Russian manufacturing and technology conglomerate, has developed a system allowing the processing of international settlements and storage of digital currency. The blockchain-based platform has been announced as an…
Provision Allowing Cryptocurrency Payments in Foreign Trade Added to Russian Bill
A proposal to permit companies to use cryptocurrency in cross-border settlements has made its way to a draft law designed to regulate Russia’s crypto space this year. According to a…
Russia Considers Using Cryptocurrencies for International Settlements
Authorities in Russia are mulling over the possible use of digital currencies for international payments, a high-ranking official from the finance ministry has indicated. If recognized as property, he noted,…
Russia’s First Digital Financial Assets Expected This Year, Lawmaker Says
The first digital financial assets based on Russian blockchains may be issued as early as this year, a high-ranking parliamentarian announced. Three platforms are already registered as issuers, said Anatoly…
Bank of Russia to Pilot Digital Ruble Settlements in 2023
Russia’s monetary authority intends to conduct the first settlements with the digital ruble next year, its governor announced this week. Speaking to Russian lawmakers, the official highlighted the important role…