russia’s central bank
Russian Central Bank Bars Mutual Funds from Investing in Cryptocurrencies
Under the new ban, Russia’s mutual fund companies must not invest in crypto assets.
Russia Begins CBDC Settlement Mechanism While Sanctions Continue
A central bank digital currency will be used to establish a cross-border settlement mechanism by Russia's central bank (CBDC). The plans are anticipated in 2023's first quarter. By2024, the Bank of Russia planned to launch its digital currency.
Russia’s Central Bank Will Ban Crypto Issuance and Trading in Upcoming “Digital Financial Assets” Bill
Alexey Guznov, head of the legal department at Bank of Russia, says that the new version of the delayed bill on “Digital Financial Assets” will include a ban on issuance and selling of cryptos in the country.
Russia’s Largest Bank Sberbank Buys 5,000 Blockchain ATMs Despite Authorities' Plan to Ban Crypto
Sberbank, Russia’s largest bank, is purchasing more contactless ATMs that are powered by blockchain. The banking giant is making such a move despite an upcoming bill that aims to penalize individuals and firms that use and trade cryptocurrencies in financial transactions. Sberbank’s ATMs have nothing to do with cryptocurrencies as they do not act as BTMs (Bitcoin ATMs). The banking institution just intends to cut the need for physical contact associated with the use of bank debit/credit cards amid the coronavirus pandemic. Throughout the COVID-19 epidemic, Sberbank has been preferring to cut down the use of plastic cards because of health concerns.
DFA Bill Passed, But Central Bank of Russia Still Thinks Cryptos Are Criminal
Despite the Digital Financial Assets bill being passed by the State Duma, Russia’s Central Bank has nevertheless argued that crypto transactions are not deemed as legitimate investments.
The Bank of Russia Says CBDC Will Eliminate Challenges Caused by Cryptocurrencies
An executive working at Russia’s Central Bank has stated that a Central Bank Digital Currency could serve as a response to problems being created by cryptocurrencies.
Blockchain Platform Owned by Russia’s Richest Man Gets Greenlight to Tokenize Air Tickets
Vladimir Potanin, arguably the richest man in Russia, has been granted permission to offer digital tokens to book air tickets, purchase metals, and transfer ski passes using his blockchain platform dubbed Atomyze. The much-needed go-ahead was given by the nation’s central bank last week based on Potanin’s urge to tokenize commodities from a consumer perspective.
Estonia's Central Bank Launches Research Project into CBDC
Estonia’s Central Bank also known as Eesti Pank has launched a multi-year research project into central bank digital currencies.
South Korea’s Central Bank Launches Central Bank Digital Currency Pilot Program in Case of Future Necessity
South Korea’s central bank recently announced that it has launched a pilot program assessing the issuance of a central bank digital currency (CBDC). The Bank of Korea has stated that there are no immediate plans to launch a CBDC, however, the pilot program will allow the central bank to be prepared in the future if the changing market conditions require its issuance.
Six Central Banks Form Working Group to Assess Central Bank Digital Currencies
Six central banks around the world have come together to create a working group to share experiences on use cases on central bank digital currency (CBDC). With significant expertise in exploring digital currencies, these six central banks are the Bank of Canada, Bank of England, Bank of Japan, European Central bank, Sveriges Riksbank in Sweden, and the Swiss National Bank, and the Bank of International Settlements (BIS).
Philippines Central Bank To Research Further Before Launching its CBDC
Philippines Central Bank governor Benjamin Diokno has recommended further research with respect to the proposed Digital Peso, central bank digital currency.
European Central Bank is Consulting the Public on CBDC
The European Central Bank has launched a public consultation to seek public opinion on its proposed digital Euro or central bank digital currency (CBDC).
Bank for International Settlements Reveals Findings on Central Bank Digital Currencies
The Bank for International Settlements released its analysis report in which it evaluated central bank digital currencies globally.
China’s Central Bank Takes A Step Forward to Regulate Blockchain
China’s central bank, the People’s Bank of China is set to create industry standards across the financial technologies sector, including blockchain.