Bank of Russia News

A finance officer believes it is necessary to sell the mined assets abroad to avoid the adoption of crypto in internal payments.

VTB Factoring acquires a tokenized debt pool of industrial companies via the Lighthouse blockchain.

Cryptocurrencies can be used in cross-border or international payments only if they don’t get into Russia’s domestic financial system, the Bank of Russia governor said.

Sber was initially planning to launch its blockchain-enabled digital asset platform and the Sbercoin stablecoin by spring 2021.

A top Russian central bank official said at a press conference that the monetary authority will permit foreign trade with crypto.

“The question is when this will happen, how it will happen and how it will be regulated. Now both the Central Bank and the government are actively engaged in this,” said trade minister Denis Manturov.

Binance blocked the account of the Kremlin spokesman’s daughter when she tried to use the exchange following the economic sanctions imposed upon Russia.

The future of crypto adoption will largely depend on which of the competing narratives about digital assets and blockchain’s environmental effects prevails.

Elvira Nabiullina is concerned about the Bank of Russia not treating digital asset projects softly enough to attract funding and maintain the economy.

Amendments to the tax code have passed the first round of parliamentary consideration in February.

The Association of Banks of Russia has previously collaborated with Binance as part of its expert center focused on crypto regulation.

Russia should deploy cryptocurrencies and CBDCs for settlement and payments with Africa, the president of the Chamber of Commerce and Industry believes.

Russians reportedly hold about $130 billion in cryptocurrency but the government is yet to adopt crypto legislation.

The regulator’s recommendation is designed to prevent capital flight amid economic collapse.

Policymakers in Moscow are scrambling to rethink their approach to digital currency as one of several means of protecting the increasingly isolated economy.