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Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay TestingThe Central Bank of Russia has emphasized the importance of moving forward with its digital ruble project. According to a statement by a top representative, the monetary authority has no intention to delay the trials despite not all invited banks being ready to participate yet. Bank of Russia to Experiment With Digital Ruble Payments This […]

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Bank of Russia Reports First Successful Digital Ruble Transfers Between Users

Bank of Russia Reports First Successful Digital Ruble Transfers Between UsersTesting of the digital ruble has started in Russia with the country’s central bank announcing the first complete transactions between individual wallets. The monetary authority, a staunch opponent of cryptocurrencies, says its digital currency will create new opportunities for citizens, businesses, and the Russian state. Digital Ruble Transactions Carried Out by Commercial Banks and Bank […]

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European Commission to Launch Digital Euro Consultations in March, Propose Bill Early Next Year

European Commission to Launch Digital Euro Consultations in March, Propose Bill Early Next YearThe executive arm of the EU is gearing up to start public consultations on the digital euro project next month. The European Commission will also prepare new legislation to establish the legal basis for the digital version of the common European fiat. A draft is expected in 2023. EU Finance Chief Announces Legislative Plan for […]

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Russian Investors to Pass Exams Before Buying Cryptocurrencies, Draft Law Suggests

Russian Investors to Pass Exams Before Buying Cryptocurrencies, Draft Law SuggestsA new Russian law may oblige potential crypto investors to take a test before being allowed to purchase digital assets over a certain limit. The authors are also hoping to regulate cryptocurrency mining and cut access to cheap energy for those who mint coins in their homes. Bill to Bring ‘Tight Regulation’ to Crypto Industry, […]

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Russians to Pay Fees on Digital Ruble Transactions, Central Bank Says

Russians to Pay Fees on Digital Ruble Transactions, Central Bank SaysUsers of Russia’s central bank digital currency are going to pay a fee for each transaction, a high-ranking representative of Bank of Russia has recently announced. The digital ruble charge, however, is not going to exceed those currently applied to fast payments in the country. Bank of Russia to Charge for Digital Ruble Transfers The […]

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Digital Ruble Should Not Boost Inflation, Bank of Russia Says

Digital Ruble Should Not Boost Inflation, Bank of Russia SaysBank of Russia is preparing for a prolonged trial of the digital version of the national fiat to ensure this is a “full-fledged ruble,” the head of the monetary authority has emphasized. The regulator has put forward some conditions for the implementation of the new currency project. Bank of Russia Sets Conditions for Digital Ruble […]

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Central Bank of Turkey Expands Research, Prepares to Test Digital Lira on New Platform

Central Bank of Turkey Expands Research, Prepares to Test Digital Lira on New PlatformThe Turkish central bank has established a new platform together with technology stakeholders to further the development of a digitalized version of the national fiat currency. The new collaboration will allow Turkey to focus on expanding research and conducting tests of the prospective digital lira. Turkey Sets Up Digital Lira Collaboration Platform The Central Bank […]

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Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments

Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency PaymentsThe central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make them cheaper. Reserve Bank of Australia Teams Up With […]

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Digital Yuan to Promote International Use of Chinese Currency, Experts Say

Digital Yuan to Promote International Use of Chinese Currency, Experts SayThe new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct cross-border tests with the yuan’s digitized version, the e-CNY. Digital Yuan […]

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