Bank of Russia News

Though Russia has become a global leader in the crypto market, the Bank of Russia is still skeptical about Bitcoin.

The Bank of Russia views CBDCs as a responsible alternative to Bitcoin and wants to take fees from CBDC transactions.

According to official data, Russia’s inflation rate reached 8.1% in October, the highest level in almost six years.

Russian lawmakers will reportedly begin working on the legal adjustments needed to implement the digital ruble plan scheduled for early 2022.

After a slight hiccup in BTC futures premium, traders seem comfortable despite the $58,000 support retest and the risk of $60,000 turning into resistance.

One way or another, Russians get exposure to crypto even if they go abroad, Tinkoff Investments’ head said.

Many crypto exchanges with Russian roots have fled the country or operate illegally, Blockchain Life’s founder said.

“No one is looking to allow Russian people to earn money with crypto operations,” the official claimed.

The recent law “On Digital Financial Assets” has not gone far enough in the eyes of Russian crypto industry advocates.

The U.S. Treasury asked cryptocurrency companies to ensure compliance with sanctions last week.

Russian authorities continue to show increasing interest in cryptocurrencies as Bitcoin nears a new all-time high.

The Bank of Russia remains skeptical on crypto despite the Russian president viewing it as a potential unit of account.

The Russian president has not excluded the possibility that, at some point, crypto will become a “means of accumulation.”

The Bank of Russia also wants to slow down transactions to crypto exchanges to prevent “emotional” crypto purchases.

The exchange was previously known as BTC-e, though its name was changed to WEX following legal difficulties in 2017.