Russia’s Digital Currency Measures Fail to Satisfy FATF, Blacklist Possible

October 17, 2024 Bitcoin.com

Russia’s financial regulator maintains that its anti-money laundering system, including strengthened virtual currency regulations, remains effective even if the country faces potential blacklisting by the Financial Action Task Force (FATF). The agency highlighted new federal laws addressing previous concerns and stressed that no significant deficiencies exist that would justify Russia’s inclusion on the FATF blacklist, […]

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Select Group of Russian Firms Authorized to Use Crypto for Chinese Imports Amid Sanctions

September 29, 2024 Bitcoin.com

Banking

A select group of Russian companies, including electronics producers and financial institutions, has received approval to use cryptocurrencies for Chinese imports under a pilot legal framework. Overseen by Russia’s central bank and the Ministry of Finance, this initiative targets firms handling dual-use products and facing challenges with international payments, particularly with China. Russian Firms Explore […]

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Putin: Russia Examining Digital Currencies for Independent Payments

September 28, 2024 Bitcoin.com

bitcoin.com

Vladimir Putin highlighted that Russia is examining the use of national digital currencies to implement an independent and supranational alternative payment system. However, he also outlined the intricacies of building such a platform, given the level of integration of major trading partners with the current financial system. Russian President Acknowledges Relevance of Digital Currencies for […]

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Global Surge in CBDC Development: 134 Countries Now Exploring Digital Currencies

September 19, 2024 Bitcoin.com

Atlantic Council

New data shows that 134 countries, representing 98% of global GDP, are now exploring central bank digital currencies (CBDCs), with 66 nations advancing to pilot or development stages. Every G20 nation is engaged in CBDC efforts, with notable leaders such as China and the European nations pushing forward. The U.S. remains lagging behind Europe and […]

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Swift Unveils Plan to Integrate Digital Assets and Currencies Into Global Payment Network

September 15, 2024 Bitcoin.com

bitcoin.com

Swift has unveiled a plan to enable the movement of digital assets and currencies on its global payment network. The initiative aims to integrate regulated digital currencies into Swift’s platform, building on past experiments. “We’re paving the way towards real-world solutions that will enable our members to access and transact with regulated digital assets and […]

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Consumer watchdogs call for EU action on in-game digital money

September 13, 2024 Coin Telegraph

Coin Telegraph

Consumers fall prey to many deceptive practices when buying and using in-game currencies in video games, claims BEUC.

A group representing European consumer protection organizations has filed a complaint with the European Commission about the video game industry’s use and marketing of in-game digital currencies.

The European Consumer Organisation (BEUC) and 22 member organizations from 17 countries on Sept. 12 called for the European Commission and the European Network of Consumer Authorities (CPC-Network) to take stronger enforcement against video game companies that maximize consumer spending by using in-game currencies.

A report from the watchdogs noted the growth of in-game purchases using in-game digital currencies, especially in free-to-play games and those played by children, a practice they claimed now generates significant revenues for game companies.

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Head of the State Duma’s Financial Market Committee: National Digital Currencies to Be Considered for Bilateral Settlements Between China and Russia

September 6, 2024 Bitcoin.com

Anatoly Aksakov

Anatoly Aksakov, head of the State Duma’s Financial Market Committee, has discussed the use of national digital currencies for bilateral settlements between Russia and China. In a recent interview with Russian media, Aksakov stated that these instruments will be considered for such settlements as soon as the regulatory and technological platforms for this task are […]

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Crypto.com Adds Paypal as Payment Option in US for Crypto Purchases

August 28, 2024 Bitcoin.com

bitcoin.com

Crypto trading platform Crypto.com has integrated Paypal as a payment method for U.S. users to buy cryptocurrencies, enabling transfers between Paypal and Crypto.com wallets. “Further integrating traditional and digital payment capabilities is critical to the continued mainstreaming of cryptocurrencies,” said Crypto.com’s president. Crypto.com Integrates Paypal for Crypto Purchases Cryptocurrency trading platform Crypto.com announced on Wednesday […]

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Bank of Russia Eyes Stablecoins for Cross-Border Transactions

August 27, 2024 Bitcoin.com

Alexey Guznov

The Bank of Russia is exploring the use of stablecoins in cross-border transactions, considering them as digital financial assets (DFAs) under existing regulations if they have a responsible entity. The initiative may involve a limited group of qualified investors and would require testing for regulatory feasibility. Bank of Russia Explores Stablecoin Use for Cross-Border Transactions […]

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India Expected to Release Consultation Paper on Cryptocurrency Regulations in Coming Months, Report

August 24, 2024 Bitcoin.com

Binance

The Indian government, through a panel headed by the Secretary of the Department of Economic Affairs (DEA), is expected to release a consultation paper on cryptocurrency regulations. The paper, scheduled for release between September and October 2024, will seek input from stakeholders to gather feedback on effective regulation. India is emphasizing the importance of international […]

Digital Currencies

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