News
The Bank of Russia’s new stock exchange recommendations do not apply to central bank digital currencies and authorized digital assets issued in Russia.
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Russia News
Russia is the globe’s most sizable country in terms of land. On a map, Russia sits above Kazakhstan, Mongolia and China. Russia dwarfs China in geographic coverage, but not in terms of population — although Russia still lies among the globe’s most populous countries. The country is also known as the Russian Federation. The ruble serves as Russia’s national currency.
When it comes to Russia, cryptocurrency is still developing as a scene as the country evaluates its regulatory stance on various aspects of the asset class. In Russia, Bitcoin and other crypto assets are not an acceptable form of payment under the country’s regulatory climate, however. Owning cryptocurrency is also prohibited for folks working in certain government positions.
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Russian crypto advocates are already collaborating with a consortium including some of China’s largest crypto mining-related companies.
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BitRiver utilizes only surplus hydroelectric power to operate its data centers in Russia and CIS countries.
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Russia’s prosecutor general, Igor Krasnov, says new crypto regulations are needed to combat corruption as — in his view — digital assets are often used to facilitate crime.
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The Bank of Russia is collecting data from 15 credit firms and payment systems like Visa and Mastercard.
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Twelve Russian banks including Sberbank, VTB and Tinkoff Bank will help the Bank of Russia test the digital ruble in January 2022.
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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.
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Russia needs to move to Bitcoin to provide a “real financial instrument enabling independence in foreign trade settlements,” Deripaska argued.
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Joe Biden said that the U.S. and Russia might have the beginnings of a "cybersecurity arrangement that begins to bring some order" within the next year.
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A long-time member of the Russian State Duma has criticized the central bank’s approach to digital assets.
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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.
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Russia has officially legalized crypto trading this January, but the government still doesn’t allow local banks to offer crypto services.
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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.
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Some Russian officials want to allow cryptocurrencies for payments under domestic contract law.
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Former Russian Prime Minister and President Dmitry Medvedev believes that it is time to recognize the importance of crypto and CBDCs.
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