Bank of Russia News

A new survey of 3,000 Russians suggested that most people strongly disagree with receiving salary payouts in a state-controlled digital currency.

The Bank of Russia’s new stock exchange recommendations do not apply to central bank digital currencies and authorized digital assets issued in Russia.

The Bank of Russia is collecting data from 15 credit firms and payment systems like Visa and Mastercard.

Twelve Russian banks including Sberbank, VTB and Tinkoff Bank will help the Bank of Russia test the digital ruble in January 2022.

The governor of the Bank of Russia has maintained a tough stance on Bitcoin despite growing criticism of how the bank has handled digital asset regulation.

Russia needs to move to Bitcoin to provide a “real financial instrument enabling independence in foreign trade settlements,” Deripaska argued.

A long-time member of the Russian State Duma has criticized the central bank’s approach to digital assets.

Top Russian bankers cite their reasons for not liking Bitcoin after Tinkoff's CEO said that the central bank was stopping it from offering crypto trading services.

Russia has officially legalized crypto trading this January, but the government still doesn’t allow local banks to offer crypto services.

One of the biggest Bitcoin critics, Russian official Anatoly Aksakov, said he wanted to buy Bitcoin before the ban, but the price was too high.

According to Russian crypto advocates, the existing laws “do not meet the needs” of the cryptocurrency market.

The digital ruble will become an integral part of national settlements by 2023 or 2024, Anatoly Aksakov of the Russian State Duma predicted.

The Bank of Russia hopes to complete a prototype platform for a digital ruble by the end of 2021.

Retail users may have to wait in much of the world, however.

Sberbank has applied with the Central Bank of Russia to launch a blockchain platform for its “Sbercoin” stablecoin.