Bank of Russia to Promote Digital Ruble in Foreign Trade as Finance Ministry Pushes for Crypto Option

Bank of Russia to Promote Digital Ruble in Foreign Trade as Finance Ministry Pushes for Crypto Option

Days after the two institutions agreed on the need for cross-border crypto payments, the finance ministry and the central bank of Russia are once again highlighting their different priorities. While the treasury department aims for legalizing cryptocurrency payments in the coming months, the monetary authority says it will “actively promote” its digital currency for international […]

Russian Crypto Scammers Go Offline, Open Offices, Central Bank Worried About Trend

Russian Crypto Scammers Go Offline, Open Offices, Central Bank Worried About Trend

An increasing number of financial and crypto pyramids targeting Russian investors have been opening physical offices in the country. The Central Bank of Russia has recently expressed concern over the trend which is seen as an indication that the fraudsters expect growing demand. Russian Crypto Scams Launch Offices to Lure More Investors In-person, Bank of […]

Bank of Russia Eases Restrictions on Purchases of Dollar and Euro Cash

Bank of Russia Eases Restrictions on Purchases of Dollar and Euro Cash

The Central Bank of Russia has relaxed some limitations for Russian banks selling U.S. dollars and euros to the public. The increased supply of foreign cash may affect the crypto market in the country as currency restrictions have been a driver of increased demand for digital coins. Monetary Authority of Russia Expands Citizens’ Access to […]

Bank of Russia Aims for Full Launch of Digital Ruble in 2024

Bank of Russia Aims for Full Launch of Digital Ruble in 2024

The Central Bank of Russia plans to begin the comprehensive implementation of the digital ruble two years from now, according to a paper detailing its monetary policy priorities for the 2023 – 2025 period. As the development of the state-issued digital currency continues, the monetary authority intends to gradually connect various financial institutions to the […]

Bank of Russia Says Stablecoins Are Not Suitable for Settlements

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 top finance ministry official who suggested that his department would support the development of Russian stablecoins. Russia’s Central Bank Voices Opposition to Stablecoins Unlike the […]

Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad

Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad

The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the possible use of cryptocurrencies for payments, even if only internationally. Central Bank of […]

Bank of Russia Accelerates Schedule for Digital Ruble Project

Bank of Russia Accelerates Schedule for Digital Ruble Project

The Central Bank of Russia continues to step up efforts to test and issue the digital ruble, with a roadmap for the full implementation of the new form of the national fiat now expected by the end of 2023. Trials with real transactions and users are scheduled to begin next April, earlier than originally planned. […]