Putin Signs Law to Advance Cryptocurrency Use in Russia’s International Trade

August 11, 2024 Bitcoin.com

Russian President Vladimir Putin has signed a new law to establish experimental legal frameworks to advance digital technologies, particularly cryptocurrencies, in international trade. The legislation allows for the modification of laws to facilitate cryptocurrency transactions, including cross-border trade, and grants the Bank of Russia oversight of pilot projects related to digital currencies. Putin Signs Law […]

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Russia To Permit Use of Crypto for Global Payments Amid Western Sanctions: Report

August 1, 2024 The Daily Hodl

Brazil

Russian lawmakers have reportedly passed a bill that will enable the nation to use cryptocurrency in international trade. Reuters reports that the law is expected to take effect in September. Russian Central Bank Governor Elvira Nabiullina says the first crypto transactions will likely happen within the year. The law will only allow businesses to use […]

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Bank of Russia Expects Wide Adoption of Digital Ruble Within 5 to 7 Years

August 1, 2024 Bitcoin.com

Adoption

Elvira Nabiullina, the governor of the Bank of Russia, declared that she expects the digital ruble, the Russian CBDC, to achieve a high level of acceptance due to the benefits it offers to Russian citizens. During a speech at the Federation Council, Nabiullina stated that it would be widely adopted within five to seven years. […]

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Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

April 30, 2024 Bitcoin.com

Bank or Russia

The Bank of Russia has dismissed the effect that a future confiscation of Russian assets in the U.S. might have on the nation’s economic stability. Elvira Nabiullina, governor of the bank, stated that Russia has been diversifying its asset portfolio for many years and that the assets to be seized weren’t in use anymore. Bank […]

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Russia Discusses Testing Digital Ruble for Budget Payments

March 27, 2024 Bitcoin.com

Anton Siluanov

The Central Bank of Russia and the Russian treasury are considering testing using the Russian CBDC, the digital ruble, to complete budget settlements. The tests would involve using this CBDC to make payments to businesses and citizens and receiving payments from these in CBDC, to ensure the targeted use of these funds. Russian Digital Ruble […]

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Russian Digital Ruble Pilot ‘on Track,’ Registers About 25K Transactions

March 5, 2024 Bitcoin.com

bitcoin.com

Elvira Nabiullina, Governor of the Bank of Russia, stated that the current pilot test of the Russian digital ruble was “on track,” with several operations being tested, including opening wallets, and interactions with smart contracts. Nabiullina revealed that over 25,000 transactions were registered, and confirmed the pilot expansion later this year. Russian Digital Ruble Pilot […]

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Russia Projected to Start Purchasing Chinese Yuan for Its Foreign Reserves as Soon as May

May 4, 2023 Bitcoin.com

Bank of Russia

Russia will start to purchase Chinese yuan for its international reserves as soon as this month, according to reports from Russian economists. While analysts state that the purchases will be small and symbolic in the beginning, these will supposedly demonstrate a turnaround in the economy of the country. Russia to Purchase Chinese Yuan for Reserves […]

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Bank of Russia Has Stockpiled Reserve Comprised of Non-US Sanctioned Assets, Governor States

April 21, 2023 Bitcoin.com

Bank of Russia

Elvira Nabiullina, governor of the Bank of Russia, has affirmed the bank has stockpiled reserves in assets that are not susceptible to being affected by U.S. sanctions. The official clarified that Russia has built a “safety cushion” in these assets while it continues working on creating new reserves in non-U.S. sanctioned assets. Russia Built Bank […]

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Russia Mulls Gold-backed Stablecoin, Lawmaker Confirms After Iran Visit

January 26, 2023 Bitcoin.com

Anatoly Aksakov

Russia may issue a stablecoin backed by gold to use in international settlements, a high-ranking member of the Russian parliament has admitted. The matter has been discussed during a recent visit to Iran where officials have also signaled interest in such an initiative. Iran and Russia Talk Stablecoin Payments for Bilateral Trade Settlements The Russian […]

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Crypto Payments Possible if They Don’t Penetrate Russia’s Financial System, Central Bank Says

June 16, 2022 Bitcoin.com

Bank of Russia

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 assets should not be traded on platforms operating inside the country. Bank of Russia Chair Ready to Accept Cryptocurrency Payments for International Settlements Cryptocurrencies can […]

Elvira Nabiullina

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